US Joiner, a manufacturer of marine interiors and a portfolio company of J.F. Lehman & Company, has acquired certain assets from Maritime Services Corporation.
This acquisition will enable US Joiner to further establish its presence in the Pacific Northwest marine marketplace by establishing a regional office with manufacturing capabilities.
Maritime Services Corporation (MSC) was founded in 1986 as a ship interior joiner contractor. Products and services include complete ship interior outfitting, case work and mill work manufacturing, marine interior design and marine electrical. Customers include ship owners and operators from all sectors of the maritime industry including cruise ships, tankers, tugs, offshore accommodations, fishing vessels, research vessels, ferries, military ships and gaming vessels worldwide. The company is based in Hood River, OR (www.mscor.com).
US Joiner installs and outfits marine interiors of large oceangoing vessels for U.S. Government and commercial customers. US Joiner was acquired in June 2011 by J.F. Lehman & Company. The company has approximately 500 employees and is headquartered in Crozet, VA (www.usjoiner.com).
“The purchase of these assets from MSC is an excellent addition to US Joiner and a highly complementary fit. We look forward to expanding our presence and capabilities in the Pacific Northwest to better serve our existing customers as well as the broader marine marketplace in this region. In addition, the cruise market expertise that comes with this acquisition will grow our presence in this large and expanding industry sector,” said Joe Mullen, President of US Joiner.
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).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-1-12
