Drew Marine Sold on to The Jordan Company by J.F. Lehman

MarineLink.com
Tuesday, November 19, 2013

Leading middle-market private equity firm focused on the maritime, defense and aerospace sectors, J.F. Lehman, has sold its portfolio company Drew Marine to affiliates of The Jordan Company. 

With a corporate heritage that dates back to 1928, Drew Marine is the leading independent global manufacturer and provider of advanced performance chemicals and safety solutions to virtually every sector of the international maritime and offshore markets. Terms of the transaction were not disclosed.

Since acquiring Drew Marine in 2009, J.F. Lehman worked successfully with the company’s management team to reinvigorate Drew Marine'’s core business of providing global maritime customers (representing over 11,000 ocean-going vessels) with critical products and services across approximately 1,000 port locations in 50 countries around the world. 

These organic growth initiatives were augmented by two strategic acquisitions which substantially increased Drew Marine’s product portfolio, customer base and distribution channels.

"We are proud of the profitable growth and expansion that Drew Marine has achieved over the past four years,”" said Len Gelosa, President and Chief Executive Officer of Drew Marine.  “"J.F. Lehman has been instrumental in helping solidify our reputation and brand portfolio, expand our capabilities through organic growth and acquisition, improve our infrastructure and recruit key talent to our team.  We look forward to continuing this momentum under The Jordan Company.”"

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

CMA CGM to use Kingston As Transshipment Hub

French shipping giant CMA CGM plans to use Kingston Container Terminal,  Jamaica as a strategic Caribbean transshipment hub for an enlarged Panama Canal. The Port connects to US East Coast,

Conrad Shipyard Forms LNG Business Unit

Conrad Shipyard has formed a new business unit focused on LNG projects.   Conrad, builder of North America’s first LNG bunker barge scheduled for 2017 delivery,

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

Coatings & Corrosion

AkzoNobel Wins Major Environmental Award

AkzoNobel’s pioneering methodology for rewarding ship owners who use sustainable hull coatings has been named Environmental Leader Product of the Year for 2016.

Viscometer Helps Coating Process

Oxfordshire based Chiltern Connections specialist is a provider of conformal coating machines and associated solutions for a wide range of industrial customers.

Schottel's New Coating Systems for Rudderpropellers

Schottel now offers a new coating system for its Rudderpropellers. According to the manufacturer, the result is maximum corrosion protection due to optimized resistance

Maritime Safety

Traffic Separation Schemes off Western Australia

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish

Ailing Mariner Medevaced off Alaska

An ailing crewmember aboard the fishing vessel Seafreeze Alaska was medevaced approximately 195 miles north of Cold Bay, Alaska, Thursday.   A Coast Guard Air

More than 2,000 Migrants Rescued at Sea -Italy Coastguard

Ship crews pulled more than 2,000 migrants from overcrowded boats in the Mediterranean on Friday, Italy's coastguard said, as people smugglers stepped up operations

Mergers & Acquisitions

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

OSG Joins NYSE "Big Board"

Overseas Shipholding Group, Inc. (NYSE:OSG) (the “Company” or “OSG”) announced today that it has been approved by the New York Stock Exchange (“NYSE”) to transfer

Merger: Survitec Joins Forces with WMS

Survitec Group announced a transformational deal with the Marine Safety business of Wilhelmsen Maritime Services AS (WMS), in which WMS will transfer into Survitec

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0902 sec (11 req/sec)