J.F. Lehman & Co acquired, in partnership with company managers, American Scaffold, the San Diego provider of maintenance, repair and overhaul services for U.S. government ships. Terms weren’t disclosed.
NEW YORK, March 31, 2016 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors, announced today that it has acquired American Scaffold in partnership with company management.
American Scaffold is a leading provider of scaffolding systems and environmental containment solutions for the maintenance, repair and overhaul (“MRO”) of U.S. Government (“USG”) vessels. Headquartered in San Diego, CA, the company employs approximately 300 people across the United States.
“We are excited to be partnering with the American Scaffold management team and are pleased to welcome the company to the J.F. Lehman & Company portfolio,” said Alex Harman, a Partner with JFLCO. “They are an excellent fit with our investment strategy given their leading market positions, long-standing customer relationships and outstanding workforce. In today’s government and commercial marine marketplace, the need for high-quality, reliable, safe and cost-effective scaffolding solutions is growing, and American Scaffold offers a full-range of services to meet this demand.”
Mick Ruis, President and CEO of American Scaffold commented, “J.F. Lehman & Company is the ideal partner for American Scaffold. They offer an excellent combination of unique expertise and relationships as well as capital to accelerate our growth. We look forward to continuing American Scaffold’s proud heritage of providing best-in-class scaffolding and environmental containment systems to the U.S. maritime industry.”
Debt financing for the transaction was provided by BNP Paribas.
Blank Rome LLP and Jones Day provided legal counsel to JFLCO. Parallax Equity Partners advised the seller.
Contact: J.F. Lehman & Company, Lisa Steffens, +1-212-634-1150