The private equity firm J.F. Lehman & Company on Friday said it has acquired marine systems and products supplier IMECO, adding to its portfolio of maritime services companies.
Terms of the deal were not disclosed. J.F. Lehman purchased IMECO in partnership with its management.
IMECO, which is based in Michigan, provides turnkey marine electro-mechanical solutions to the United States government and commercial customers. The company’s integrated solutions include the design, engineering, planning, procurement and installation of heating, ventilation, and air conditioning, cargo handling, electric steering, propulsion and fire suppression systems.
“IMECO has built a highly respected brand name and outstanding reputation with U.S. shipyards by providing innovative, high-quality engineered systems on a turnkey basis,” Alex Harman, a partner at J.F. Lehman, said in a statement. “The company fits well with our firm’s investment mandate and our existing portfolio of maritime services investments.”
Some of J.F. Lehman’s other marine holdings include Atlantic Marine Holding Company, Drew Marine, Sperry Marine and US Joiner. Late last month, US Joiner acquired JCI Metal Products, a provider of maintenance, repair and overhaul services focusing on habitability, fabrication, electrical and piping solutions to U.S. Navy vessels.
That deal allows US Joiner to boost its position in the Navy MRO market and expand its footprint in the Pacific. JCI has operations in San Diego and Pearl Harbor. US Joiner provides turnkey marine joiner and furniture solutions for the U.S. government and commercial customers.