The New Jersey-based company holds Level 1 qualifications as both a U.S. Navy forging and fitting manufacturer — one of only three companies in the country to hold both
Custom Alloy is a vertically integrated manufacturer of open- and closed-die forgings and seamless and welded pipe fittings that are used in high-pressure lines, corrosive environments, heat-severe conditions, and nuclear programs.
June 23, 2026|John McNulty
Forged Solutions Group, a J.F. Lehman & Company portfolio company and provider of high-specification forgings used in the aerospace, defense, and space markets, has acquired Custom Alloy Corporation.
Custom Alloy was acquired by Trident Maritime Systems, a J.F. Lehman portfolio company, through a bankruptcy process in 2023. The new transaction effectively realigns the business within J.F. Lehman’s portfolio following the firm’s acquisition of Forged Solutions Group from Arlington Capital Partners in March 2026.
Forged Solutions Group(FSG) manufactures high-specification forged metal components used in aerospace, defense, and space applications. The company’s capabilities include rolled ring, closed-die, open-die, and extrusion forging processes, producing components from nickel, titanium, steel, and aluminum alloys.
Credit: Forged Solutions Group
Rolled ring forging shapes metal into strong circular parts; closed-die forging presses metal into molds to create precise, high-strength components; open-die forging compresses metal between flat surfaces to form larger or custom pieces; and extrusion forging forces metal through a shaped opening to produce long, uniform parts.
FSG products include rotating aeroengine discs and shafts, structural airframe components, and space-launch hardware, each designed to withstand high temperatures and mechanical stress inside jet engines and other propulsion systems. Customers include global original equipment manufacturers and Tier 1 suppliers that integrate these parts into commercial and military aircraft engines.
Custom Alloy (CAC) is a vertically integrated manufacturer of open- and closed-die forgings and seamless and welded pipe fittings that are used in high-pressure lines, corrosive environments, heat-severe conditions, and nuclear programs. CAC works with more than 170 alloys, including nickel, titanium, aluminum, and stainless steel, and handles the full manufacturing process in-house — from conversion and machining to heat treatment and testing.
CAC holds Level 1 qualification from the U.S. Navy as both a forging manufacturer and a fitting manufacturer, one of only three companies nationally to hold both designations. The company is the sole-source manufacturer for Columbia-class Main Seawater Fittings and is dual-sourced for Virginia-class Main Seawater Fittings, positioning it as a supplier across subsurface and surface naval programs.
Credit: Custom Alloy Corporation
Custom Alloy operates four manufacturing facilities totaling approximately 450,000 square feet with a workforce of more than 190 employees. The company was founded in 1968 and is headquartered near Allentown in High Bridge, New Jersey.
“We are delighted to welcome CAC into the FSG family. This combination further enhances FSG’s reputation as a world-class provider of high-specification forgings and presents opportunities to cross leverage forging process IP across both companies to further optimize operational capacity,” said Olivier Jarrault, CEO of FSG. “We look forward to supporting CAC’s continued growth under FSG ownership.”
The acquisition of CAC gives FSG a foothold in one of the most strategically important corners of the U.S. defense industrial base. The timing is not accidental. The U.S. Navy is simultaneously building the Columbia-class ballistic missile submarine and the Virginia-class attack submarine programs, while the AUKUS partnership with the United Kingdom and Australia is expected to drive additional long-term demand for nuclear-qualified submarine components.
At the same time, Shipbuilding capacity has become a growing concern in Washington. Congress and the Department of the Navy have repeatedly pointed to bottlenecks among the specialized manufacturers that produce critical forgings, castings, and fittings. That makes suppliers like CAC increasingly valuable. The company’s Level 1 certifications and sole-source position on Main Seawater Fittings for the Columbia-class submarine program give it a protected place in a supply chain where qualified competitors are few and new entrants face significant hurdles.
Alex Harman
“The acquisition of CAC strengthens and diversifies the FSG platform by adding attractive U.S. nuclear navy exposure,” said Alex Harman, a managing partner at J.F. Lehman. “We believe the company is well positioned to support the U.S. Navy’s fleet modernization efforts and the renewed prioritization of and investment in the shipbuilding supply chain.”
J.F. Lehman 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. J.F. Lehman is headquartered in New York City, with an additional office in Washington DC.
