J.F. Lehman & Company has closed its previously announced acquisition of UK-based Global Marine Group, a provider of subsea cable maintenance and installation services. No financial terms were disclosed. Winchester Capital served as financial advisor to JFLCO while ABN AMRO did likewise to Global Marine Group.
NEW YORK, NEW YORK – J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors, announced today that an investment affiliate has completed the acquisition of Global Marine Group (“GMG” or the “Company”), headquartered in Chelmsford, UK.
With a legacy dating to 1850, Global Marine Group is a leading provider of subsea cable maintenance and installation services to the telecommunications, offshore wind and utility markets worldwide. GMG owns and operates a highly specialized fleet of marine equipment and vessels, including three cable installation and repair vessels, four cable maintenance vessels and 19 crew transfer vessels, enabling the Company to provide its suite of highly technical offshore engineering services quickly and effectively to customers anywhere in the world.
Ian Douglas, CEO of Global Marine Group, commented: “JFLCO is the ideal partner for Global Marine Group. They offer a unique combination of maritime expertise, relationships and capital that should enable GMG to enhance services to our longstanding customer base as well as pursue growth opportunities identified by our management team over the past several years. We look forward to continuing Global Marine Group’s proud heritage of providing specialized marine engineering services at the forefront of our industry.”
“Global Marine Group represents an exciting addition to the J.F. Lehman & Company portfolio,” said Alex Harman, a Partner at JFLCO. “The Company’s leading market position, loyal and diversified global customer base and strong track record of performance align well with our established investment criteria. We plan to pursue new opportunities for growth by leveraging the highly respected Global Marine brand and the Company’s unique subsea engineering capabilities and assets.”
Debt financing for the transaction was provided by Deutsche Bank Direct Lending. Winchester Capital served as financial advisor to JFLCO and Jones Day (lead counsel) and Blank Rome (maritime) provided legal advice. Deutsche Bank and ABN AMRO served as financial advisor to Global Marine Group and Hogan Lovells provided legal counsel.
Founded in 1992, J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors. The firm has offices in New York and Washington, D.C.
For more information about J.F. Lehman & Company, please visit www.jflpartners.com.