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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Zamakona Yards Delivers Tuna Freezer Vessel

Zamakona Yards yesterday celebrated in Getxo (Bizkaia) the delivery of the tuna freezer vessel LJUBICA, their latest construction to the owner group Jadran based in Ecuador and Panamá.

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

FortisBC Starts Expansion of Tilbury LNG Facility

FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.

Ship Repair & Conversion

Mitsubishi Super Skiving System

Mitsubishi Heavy Industries, Ltd. (MHI) has completed development of the "Mitsubishi Super Skiving System" for machining internal gears with high speed and outstanding precision.

Messer to Debut MetalMaster Xcel

Messer Cutting Systems said it has answered the call from manufacturers that have been demanding a faster, more accurate way of producing cut parts. Messer’s

Rolls-Royce Expands in the Canary Islands

Rolls-Royce announced it has signed a cooperation agreement with the Astican Shipyard in Las Palmas, Canary Islands that it said will enhance the service capabilities

News

Zamakona Yards Delivers Tuna Freezer Vessel

Zamakona Yards yesterday celebrated in Getxo (Bizkaia) the delivery of the tuna freezer vessel LJUBICA, their latest construction to the owner group Jadran based in Ecuador and Panamá.

Pentair Reports 3Q 2014 Sales of $1.8 bi

Pentair plc today announced third quarter 2014 sales of $1.8 billion. Sales were up 3 percent compared to sales for the same period last year. Third quarter 2014

GOST Security System thwarts Break-in

GOST® (Global Ocean Security Technologies), a world leader in vessel security, tracking, monitoring and video surveillance systems, announced today that its

Mergers & Acquisitions

FortisBC Starts Expansion of Tilbury LNG Facility

FortisBC – a subsidiary of Fortis Inc. has officially started construction of its $400 million Tilbury LNG Facility expansion project today. The company is adding 1.

B COOL Acquires MEMAC

With the acquisition of MEMAC, B COOL A/S now offers customers one entry to multiple maritime systems – both refrigeration solutions and monitoring of the engine

TRIYARDS Buys into Aluminium Shipbuilding Expertise

TRIYARDS Holdings Limited, an offshore vessel fabrication and engineering solutions provider to the oil and gas (O&G) industry, has added new capabilities, products

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.1838 sec (5 req/sec)