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 companys 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 Marines 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."