J.F. Lehman Sells Northeast Ship Repair

MarineLink.com
Wednesday, November 20, 2013
Northeast Ship Repair's Philadelphia yard

J.F. Lehman & Company, a middle-market private equity firm focused on the maritime, defense and aerospace sectors, announced today that it has sold its portfolio company, Northeast Ship Repair, Inc. to affiliates of Plexus Capital and NewSpring Capital.

The sale of Northeast Ship Repair follows J.F. Lehman's recent sales of ACR Electronics and Drew Marine, both announced on November 19.

Northeast Ship Repair is a provider of large vessel maintenance, repair and overhaul services for the U.S. Government noncombatant fleet and commercial customers. With facilities in Boston and Philadelphia, Northeast Ship Repair operates two of the drydocks on the East and Gulf Coasts capable of servicing vessels in excess of 750 feet in length. Northeast Ship Repair was acquired in 2008.

“We are very pleased to sell Northeast Ship Repair to Plexus and NewSpring,” said Alex Harman, Partner at JFLCO. “Northeast Ship Repair President Ed Snyder and his team have done a fantastic job growing the business in partnership with us over the last five years. We appreciate the fine efforts of all involved and are confident that Plexus and NewSpring have acquired a great platform for future growth.”

Lincoln International provided M&A advisory services for the seller in connection with the transaction and Blank Rome served as legal advisor to the seller.

jflpartners.com
 

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

People & Company News

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Ship Repair & Conversion

Yachting Malta PPP Sets Sail

Yatching Malta Ltd (YML) - a new public private partnership (PPP) between the government and the Royal Malta Yacht Club (RMYC) was formed with the aim of putting Malta on "the global yachting map".

Taiwan Boosts Yacht Export

Taiwan's yacht industry saw its first double-digit growth in nearly a decade, indicating an inspiring revival led by development and sales of larger leisure boats,

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Finance

Yachting Malta PPP Sets Sail

Yatching Malta Ltd (YML) - a new public private partnership (PPP) between the government and the Royal Malta Yacht Club (RMYC) was formed with the aim of putting Malta on "the global yachting map".

China Cosco's Profit Up 54%

The Shanghai-and-Hong Kong-listed flagship unit of China Ocean Shipping Group, China Cosco Holdings Co Ltd says that its 2014 net profit went up 54 percent y/y at 362.

Taiwan Boosts Yacht Export

Taiwan's yacht industry saw its first double-digit growth in nearly a decade, indicating an inspiring revival led by development and sales of larger leisure boats,

News

Indonesia Partners with China on Maritime

Indonesian President Joko “Jokowi” Widodo and Chinese President Xi Jinping pledged increased maritime cooperation during the formers visit to China.   The joint

China Strengthens Maritime Ties with Pak

The Vice Chairman of China's Central Military Commission General Fan Changlong has pledged to deepen maritime security and military technology cooperation during

Cruise Giant Carnival to Expand its Fleet

The world's largest cruise ship company Miami-based Carnival Corp. has signed agreements with German and Italian ship builders to build nine new ships over a four-year period, starting in 2019.

Mergers & Acquisitions

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Australian Reef Pilots Under New Ownership

Australian marine pilotage company Australian Reef Pilots (ARP) has been bought by a consortium of its employees.   ARP, which services shipping through the Great Barrier Reef,

Singapore Shipping Line NOL a Takeover Target?

Singapore's Neptune Orient Lines (NOL) may be shaping up as a takeover candidate, a report in Bloomberg said.   The appeal of the shipping company that helped

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2535 sec (4 req/sec)