J.F. Lehman & Company (JFLCO) has acquired a majority stake in W.S.S. Holding A/S (WSS) and its subsidiaries (collectively, Wrist), a marine supply and logistics provider. The acquisition of Wrist was completed in partnership with existing shareholder Altor Equity Partners and members of the company’s senior management team.
Wrist is a provider of marine supply and logistics services, specializing in the procurement, storage, consolidation, and delivery of provisions, spare parts, and ship stores to maritime customers. The company supports the commercial shipping, offshore energy, and defense sectors, servicing vessels across 750 ports worldwide. Wrist also provides budget management services, digital supply chain integration, and end-to-end logistics services to optimize vessel operations.
Wrist, led by CEO Jens Holger Nielsen, is headquartered in Aalborg, Denmark, and operates from 35 global locations, with key facilities in Europe, North America, and Asia. The company employs more than 2,200 people.
“J.F. Lehman & Company brings valuable expertise and resources to help accelerate Wrist’s growth journey,” said Jens Holger Nielsen, Wrist’s chief executive officer. “We look forward to leveraging their experience and support as we continue our legacy of delivering exceptional, innovative services to customers around the world.”
“Wrist has built a world-class reputation for simplifying the maritime supply chain through its integrated, end-to-end service offerings and efforts to lead the digitization of this sector,” said Alex Harman, a partner at J.F. Lehman & Company and a new director of Wrist. “We are thrilled to partner with the Wrist team as well as Altor and welcome the company to the J.F. Lehman & Company portfolio.”
J.F. Lehman & Company is a middle-market private equity firm primarily focused on the maritime, defense, and aerospace sectors. The firm typically invests between $50 million and $350 million in companies with EBITDA ranging from $10 million to $75 million.
“Wrist is an outstanding fit with our investment strategy,” said Will Hanenberg, a managing director at J.F. Lehman & Company and the new chairman of Wrist. “Its strong positioning with blue-chip customers, differentiated logistics capabilities, and innovative digital solutions are transforming the maritime supply chain. We are eager to support the company’s growth ambitions and long-term success.”
In December 2024, J.F. Lehman & Company closed its latest flagship fund, JFL Equity Investors VI LP, securing $2.2 billion in capital. This fund is the largest in the firm’s history, significantly exceeding its original target of $1.6 billion.
Founded in 1992 by Dr. John Lehman, who served as Secretary of the United States Navy for six years, J.F. Lehman & Company is headquartered in New York City, with an additional office in Washington, DC.
Financial support and transaction advisory services for the acquisition of Wrist were provided by Nordic investment bank ABG Sundal Collier and Danske Bank. Bank of America served as the financial advisor to Wrist.
© 2025 Private Equity Professional | March 14, 2025
