J.F. Lehman & Company Completes Sale of Atlantic Marine

Tuesday, July 13, 2010

 J.F. Lehman & Company completed the sale of Atlantic Marine Holding Company to a subsidiary of BAE Systems, Inc. Atlantic Marine is a provider of vessel maintenance, repair, overhaul and conversion (“MROC”) as well as marine fabrication services to government and commercial maritime customers. The company has operations in Mobile, AL, Jacksonville and Mayport, FL and Moss Point, MS. JFL has retained the company’s MROC operations in Boston, MA and Philadelphia, PA and a parcel of real estate in Mobile. The sale price was approximately $352 million, subject to customary post-closing adjustments. An investment affiliate of JFL acquired the business in August 2006.  Tig H. Krekel, Lead Director of Atlantic Marine and Vice Chairman of JFL, said, "We are pleased to sell Atlantic Marine to BAE Systems as we believe it will be a very complementary fit with its ship repair business and will benefit from BAE Systems’ global resources and excellent reputation."
J.P. Morgan, led by Managing Director Chris Ventresca, provided M&A advisory services for the seller in connection with the transaction. Mike Dyer and Peter Schnur led the Blank Rome legal team advising the seller.


Maritime Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Damen Marine Components Opens Jiangyin Plant

Damen Marine Components (DMC) is proud to announce the opening of its brand new facility in Jiangyin, China.Those present at the opening ceremony included CEO

Henriksen Unveils Strongest SOLAS Boat Lifting Hook

H Henriksen of Norway has received SOLAS certification for a new off-load single-point boat lifting hook capable of holding up to 22.5-tonnes. The quick release

Evergreen Line Orders Ten 2,800 teu Ships

Taiwanese shipping company Evergreen is ordering ten 2,800 TEU container ships from Japanese shipbuilder Imabari Shipbuilding Co.,Ltd and compatriot CSBC Corporation.


Canada to Aid Developing Nations Fight Climate Change

Canada will provide aid to developing countries to combat climate change, Prime Minister Justin Trudeau announced on Friday ahead of talks on global warming,

Gates to Launch Mega Clean Tech Initiative

Microsoft co-founder Bill Gates will launch a multi-billion-dollar clean energy research and development initiative on Monday, the opening day of the U.N. climate change summit in Paris,

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction Winch
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: 0.0910 sec (11 req/sec)