J.F. Lehman Buys Heavy Equipment Group of Oldenburg
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J.F. Lehman Buys Heavy Equipment Group of Oldenburg

oldenburg nf1J.F. Lehman & Company has signed an agreement with Oldenburg Group to acquire its Heavy Equipment Group, including both its defense and mining business units. Upon closing, J.F. Lehman will rename the acquired groups Lake Shore Systems.

oldenburg nf22Lake Shore Systems designs, engineers, manufactures and supports complex, heavy equipment systems used in harsh operating environments, including large deck handling equipment, access and lifting systems for US government vessels, and underground mining equipment. The company has facilities in Rhinelander, WI; Iron River, MI; Kingsford, MI; and Ontonagon, MI as well as other sales and service sites in the US and Mexico (Lake Shore Defense website) (Lake Shore Mining website).

Alex Harman nf1This acquisition is J.F. Lehman’s 25th sponsored platform investment since the firm’s inception in 1992. “We are pleased to have Lake Shore join our expanding portfolio of defense, maritime and aerospace companies,” said Alex Harman, a Partner at J.F. Lehman. “In today’s marine and mining marketplace, the need for specialized, high-quality, safe, and cost-effective solutions is growing, and Lake Shore offers a full-range of products and aftermarket services to meet this demand.  We look forward to working with the management team to grow the business organically and through complementary add-on acquisitions.”

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 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 is headquartered in New York with an additional office in Washington, DC (www.jflpartners.com).

Oldenburg Group is a manufacturer of mining equipment, military products and commercial lighting. The company’s mining and military operations were acquired in 2004 when the company acquired Lake Shore, Inc. Oldenburg Group was founded in 1982 by Wayne Oldenburg and is based in Milwaukee (www.oldenburggroup.com). Oldenburg Group will maintain and continue to operate its commercial lighting equipment division which is also based in Milwaukee (www.visalighting.com).

© 2016 Private Equity Professional • 8-25-16

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