The private equity firm J.F. Lehman & Company this week said it has sold three of its portfolio companies, ACR Electronics, Drew Marine, and Northeast Ship Repair Company to several other private equity firms.
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| Northeast Ship Repair’s Philadelphia facilities. Photo. Northeast Ship Repair |
Northeast Ship Repair Company, a provider of large vessel maintenance, repair and overhaul services for the United States government’s non-combatant fleet and commercial customers, was sold to affiliates of the private equity firms Plexus Capital and NewSpring Capital. Northeast Ship Repair, which was acquired in 2008, has operations in Philadelphia, Pa., and Boston, Mass.
Lincoln International provided financial advisory services to J.F. Lehman on the sale of Northeast Ship Repair.
ACR and Drew Marine were sold to The Jordan Company.
ACR, which provides safety and survival solutions such as emergency rescue beacons and signaling lighting to aviation, marine, military and outdoor customers globally, is based in Florida.
Drew Marine, which was acquired in 2009, is based in New Jersey and has operations worldwide. It is a manufacturer of advanced performance chemicals and safety solutions to almost every sector of the international maritime and offshore markets. The company serves customers in 50 countries.
Evercore Group and Rothschild served as financial advisors to J.F. Lehman on the ACR and Drew Marine deals.
Terms of the deals were not disclosed.