J.F. Lehman & Company Acquires Chemring Marine
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J.F. Lehman & Company Acquires Chemring Marine

Drew Marine, a provider services to the maritime industry and a portfolio company of J.F. Lehman & Company, has reached an agreement with Chemring Group to acquire Chemring’s maritime interests for £32 million pounds in cash. Under Drew Marine’s ownership, the business will be named Drew Marine Signal and Safety.

Chemring Marine is a supplier of marine distress signals including hand-flares, man-over-board buoys, line-throwers and other required rescue products under established brands including Pains Wessex, Comet, Aurora and Oroquieta. The company’s products are produced in Bremerhaven, Germany; Pamplona, Spain; and Lara, Australia. The business will continue to be headquartered in Hampshire, UK (www.chemringmarine.com).

Drew Marine is a provider of technical solutions and services to the marine industry specializing in water treatment, fire, safety & rescue, cleaning & coatings, fuel management, welding & refrigeration and sealing products. Drew Marine was acquired by J.F. Lehman & Company in 2009. The company is based in Whippany, NJ (www.drew-marine.com).

“The acquisition of Chemring Marine is a perfect fit with our strategy to provide essential products for safety, reliability and compliance to the global maritime industry. Like Drew Marine, Chemring Marine is known for supplying the highest quality and best performing products to the markets that we serve. The addition of these high quality brands is in keeping with Drew Marine’s philosophy of bringing the best of the market to our customers. In addition, we add a new distribution model to Drew Marine’s capabilities, which should allow us to broaden our customer base and explore additional products suitable for the Company’s global distributor network,” said Len Gelosa, President and CEO of Drew Marine.

J.F. Lehman & Company is a middle-market private equity firm focused primarily on the maritime, defense, and aerospace sectors. The firm was founded by Dr. John F. Lehman, who served six years as Secretary of the United States Navy. To date, J.F. Lehman has made investments in companies with an aggregate transaction value of approximately $1.6 billion. The firm was founded in 1992 and is headquartered in New York with additional offices in Washington, DC and London. (www.jflpartners.com).

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