J.F. Lehman Acquires Atlantic Marine

Thursday, August 03, 2006
J.F. Lehman & Company, a New York-based private equity investor, completed a control investment in Atlantic Marine Holding Company, a provider of repair, overhaul and maintenance services for commercial seagoing vessels and U.S. Navy ships. Atlantic Marine owns and operates two stra¬tegically located shipyards in Jacksonville, Fla. and Mobile, Ala., and leases a third facil¬ity located at the Naval Station Mayport in Jacksonville. Atlantic Marine’s Jacksonville facilities focus on the commercial and U.S. Navy repair market and in recent years has expanded its service offering to the repair and conversion of mega-yachts. The company’s Mobile operation focuses on the bluewater commercial ship re¬pair sector, including vessels that serve the U.S. Defense cargo market. It also has experience in the repair and conversion of drill rigs and semi-submersibles that serve the offshore oil industry. In conjunction with the transaction, Ron McAlear, president of Atlantic Marine’s Mobile opera¬tions, and Ed Fleming, president of the Company’s Jacksonville facilities, were appointed CEO and executive vice president, respectively, of Atlantic Marine Holding Com¬pany.

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