J.F. Lehman & Company has acquired a majority stake in Sprint Energy Services LP. No financial terms were disclosed. Based in Houston, Texas, Sprint is a provider of environmental services for the upstream energy sector.
NEW YORK – J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused on the maritime, defense and aerospace sectors, announced today that certain of its investment affiliates have acquired a majority stake in Sprint Energy Services, LP (“Sprint” or the “Company”) in partnership with Company management.
Sprint is a leading provider of specialized, technical environmental services to the upstream energy industry. The Company offers a wide array of services and related rental equipment for waste management, environmental and safety solutions at customer well-sites. Headquartered in Houston, TX with eight regional offices across three leading U.S. shale basins, Sprint has approximately 200 employees. The Company joins the JFLCO portfolio alongside National Response Corporation, a leading provider of environmental and maritime services to the transportation, energy and industrial markets acquired by JFLCO in 2012.
Chris Swinbank, Chief Executive Officer of Sprint, stated, “I am pleased to announce our partnership with JFLCO. The combination of their sponsorship and experience with Sprint’s comprehensive service offering and outstanding employees strengthens the Company’s position to address substantial opportunity in our core end-markets.”
“We are excited to partner with Sprint’s management team and the prior owners,” said Glenn Shor, Principal at JFLCO. “Sprint has built a highly respected brand name and outstanding reputation by providing specialized, responsive and high quality environmental services. We are eager to continue Sprint’s history of excellence by leveraging their excellent management team and leading capabilities to grow the company.”
Jones Day provided legal counsel to JFLCO. Debt financing for the transaction was arranged by IBERIABANK.
J.F. Lehman & Company is a leading middle-market private equity firm focused primarily on the maritime, defense, and aerospace sectors.
For more information about J.F. Lehman & Company, please visit www.jflpartners.com.