J.F. Lehman & Company, a prominent private equity firm focused on sectors such as aerospace, defense, and maritime, has announced its acquisition of a majority stake in W.S.S. Holding A/S and its subsidiaries. This acquisition positions JFLCO to partner with Altor Equity Partners, Wrist’s current sponsor, as well as the management team, both of whom will retain significant ownership during Wrist’s growth phase.
Wrist is an established leader in marine supply, logistics, and budget management services, based in Aalborg, Denmark. Established in 1953, the company employs approximately 2,275 individuals and services over 750 ports globally from its 35+ locations. Wrist specializes in sourcing, storing, and delivering provisions, stores, and spare parts to vessels worldwide, effectively simplifying the maritime supply chain through its integrated services and a commitment to digital innovation.
Alex Harman, a Partner at JFLCO and newly appointed Director of Wrist, praised the company for its strong reputation in the maritime sector and expressed excitement about collaborating with Wrist and Altor to enhance the company’s growth trajectory. Will Hanenberg, Managing Director at JFLCO and the new Chairman of Wrist, echoed this sentiment, highlighting that Wrist aligns well with JFLCO’s investment strategy due to its relationships with prominent clients, unique logistics capabilities, and cutting-edge digital solutions that are modernizing the maritime supply chain.
Jens Holger Nielsen, Group CEO of Wrist, voiced his enthusiasm for the partnership, noting that JFLCO’s expertise will significantly aid in accelerating Wrist’s growth. He anticipates leveraging their resources to continue providing exceptional and innovative services to customers worldwide.
To facilitate the acquisition, a Nordic bond offering was organized by ABG Sundal Collier as the Sole Global Coordinator, with Danske Bank serving as the Joint Bookrunner. The offering included a revolving credit facility from Danske Bank. Additionally, financial advisory services for JFLCO were provided by ABG Sundal Collier, while legal counsel was managed by Jones Day and Gorrissen Federspiel. Bank of America assisted Wrist with financial advice, and Kromann Reumert represented Wrist and its equity holders legally.
Founded in 1992, J.F. Lehman & Company emphasizes investments within defense, aerospace, maritime, and governmental sectors, with operations based in New York and Washington, D.C. The acquisition illustrates JFLCO’s commitment to expanding its portfolio and supporting transformative enterprises in key industry sectors.
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