Oldenburg Group News

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units. The new company will be named Lake Shore Systems, Inc., in a return to its roots dating back to 1858. The acquisition will represent JFLCO’s 25th sponsored platform investment since the firm’s inception. Lake Shore designs, engineers, manufactures and supports complex, heavy equipment systems to meet mission critical requirements in harsh operating environments, including large deck handling equipment, access and lifting systems for U.S. government vessels and customized underground mining equipment for mine owners and operators around the world.

According to a Jan. 14 report from the Pierce County Herald a Milwaukee firm will get over $200m to provide material handling systems for the new U.S. Navy ships to be built in Marinette and Alabama. The Oldenburg Group said it would build cranes, launching systems, lift-platforms, and hatch covers for the 55 littoral combat ships recently approved by Congress. (Source: Pierce County Herald)