Tracked deals
33
33 tracked deals across 2019-2026.
Private Equity Firm
Financial Services
J.F. Lehman & Company
New York, New York, United States
Founded in 1992, J.F. Lehman & Company is a private equity firm focused exclusively on investing in the aerospace, defense, maritime, government and environmental industries, including companies with technical capabilities originating from operating in these sectors. The firm has offices in New York and Washington, D.C.
- Focus Areas
- Private equity, Aerospace & defense, Maritime
- Website
- www.jflco.com
Recent pace
6
6 tracked deals announced in the last 12 months.
Deal mix
Addon
17 addon · 15 buyout · 1 growth capital
J.F. Lehman & Company Acquisition Volume by Year
Last 8 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
Showing the 12 most recent of 33 tracked deals for J.F. Lehman & Company.
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August 7, 2026
- Buyer
- PURIS, LLC, J.F. Lehman & Company, LLC
- Target
- Amici Engineering Contractors, LLC
- Industry
- Industrial Services
- Location
- Florida, United States
- Type
- Addon
PURIS, a portfolio company of J.F. Lehman & Company, completed its acquisition of Amici Engineering Contractors, adding underground water and utility infrastructure construction capabilities. The deal integrates Amici’s self-perform engineering and complex pipeline/HDD capabilities with PURIS’ trenchless pipe rehabilitation technologies to broaden its offering to municipal potable water, wastewater, and stormwater markets.
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- Buyer
- Wrist Group, J.F. Lehman & Company, LLC
- Target
- Military Services Australia Pty Ltd, Downie Jones Ship Stores Limited
- Industry
- Transportation
- Location
- Denmark
- Type
- Buyout
Wrist Group, a marine supply and logistics provider and a portfolio company of investment affiliates of J.F. Lehman & Company, LLC, announced the acquisition of Military Services Australia Pty Ltd and Downie Jones Ship Stores Limited (together, MSA). The deal expands Wrist’s defense logistics and maritime services capabilities serving naval and government customers across Australia and the Indo-Pacific.
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June 18, 2026
- Buyer
- Forged Solutions Group, Inc., J.F. Lehman 26 Company, LLC
- Target
- Custom Alloy Corporation
- Industry
- Industrial Services
- Location
- New Jersey, United States
- Type
- Addon
Forged Solutions Group, Inc. (“FSG”) has completed the acquisition of Custom Alloy Corporation (“CAC”), a forged-components manufacturer headquartered in High Bridge, New Jersey. The deal expands FSG’s U.S. defense footprint and adds exposure to U.S. Navy nuclear forging and fittings programs.
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March 2, 2026
- Buyer
- J.F. Lehman & Company, JFL Equity Investors VI, L.P.
- Target
- Forged Solutions Group, Inc.
- Seller
- Arlington Capital Partners
- Industry
- Aerospace & Defense
- Location
- United Kingdom
- Type
- Buyout
J.F. Lehman & Company (JFLCO) and its investment affiliates, including JFL Equity Investors VI, L.P., have acquired Forged Solutions Group, Inc. (FSG). FSG is a Sheffield, United Kingdom-headquartered aerospace forgings manufacturer with flight-critical, rotating aeroengine component capabilities and seven manufacturing facilities across the United Kingdom and the United States.
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January 28, 2026
- Buyer
- J.F. Lehman & Company, JFL Equity Investors VI, L.P.
- Target
- Reclamation Technologies USA, LLC (RTI), Tradewater LLC & Affiliates (Tradewater)
- Industry
- Environmental Services
- Location
- United States
- Type
- Buyout
J.F. Lehman & Company (through an investment affiliate of JFL Equity Investors VI, L.P.) acquired majority stakes in Reclamation Technologies USA, LLC (RTI) and Tradewater LLC & Affiliates to form a new growth-oriented environmental services platform. The combined platform is focused on lifecycle management of industrial and refrigerant gases and mitigating uncontrolled methane sources through closed-loop collection, processing, reclamation, and destruction capabilities.
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January 14, 2026
- Buyer
- J.F. Lehman & Company, JFL Equity Investor VI, L.P. (affiliate of J.F. Lehman & Company)
- Target
- Wellman Dynamics
- Seller
- TRM Equity
- Industry
- Manufacturing
- Location
- Iowa, United States
- Type
- Buyout
J.F. Lehman & Company, via an affiliate of JFL Equity Investor VI, L.P., acquired a majority interest in Wellman Dynamics, a Creston, Iowa-based manufacturer of large-scale magnesium and aluminum sand castings. TRM Equity sold the majority stake and will retain a meaningful minority position; the deal is positioned as a platform investment to expand Wellman's manufacturing capacity and pursue new aerospace and defense programs.
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- Buyer
- J.F. Lehman & Company
- Target
- W.S.S. Holding A/S (Wrist)
- Seller
- Altor Equity Partners
- Industry
- Logistics & Distribution
- Location
- North Jutland Region, Denmark
- Type
- Buyout
J.F. Lehman & Company (JFLCO) has acquired a majority shareholding in W.S.S. Holding A/S and its subsidiaries (Wrist), partnering with current sponsor Altor Equity Partners and Wrist’s management, who will remain significant shareholders. Headquartered in Aalborg, Denmark, Wrist is a global maritime supply and logistics provider with ~2,275 employees operating across 35+ locations and serving 750+ ports; JFLCO will support the company’s growth, digitalization and global supply network expansion.
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February 20, 2025
- Buyer
- J.F. Lehman & Company, Atomic management (rollover)
- Target
- Atomic Transport, LLC
- Seller
- Comvest Partners (Comvest Credit Opportunities), Majority equity holders / founders (partial rollover)
- Industry
- Environmental Services
- Location
- Tennessee, United States
- Type
- Buyout
J.F. Lehman & Company (through an investment affiliate) has acquired Atomic Transport, a Chattanooga-based specialized waste transport and transfer station management company. Comvest Partners (Comvest Credit Opportunities) sold its stake in Atomic; Atomic founders and management rolled equity and will continue to lead the business as JFLCO supports growth initiatives across the company's 30 terminals in 19 states.
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February 13, 2025
- Buyer
- Crystal Clean, Inc., J.F. Lehman & Company, LLC
- Target
- Premium Environmental Services, Inc., Worldwide Recovery Systems, Inc., YES Management, Inc. (d/b/a Yuma Environmental Services)
- Industry
- Environmental Services
- Location
- United States
- Type
- Addon
Crystal Clean, a portfolio company of investment affiliates of J.F. Lehman & Company, has completed acquisitions of Premium Environmental Services (PES) and the combined operations of Worldwide Recovery Systems (WRS) and YES Management (d/b/a Yuma Environmental Services). The add-on deals expand Crystal Clean’s eastern and western U.S. footprint, enhance its waste collection, transport and disposal capabilities, and support targeted vertical integration and synergies with its branch and industrial services network.
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- Buyer
- J.F. Lehman & Company
- Target
- Mission Microwave Technologies, LLC
- Seller
- Affiliates of GaAs Labs LLC, Founders and management / majority equity holders
- Industry
- Aerospace & Defense
- Location
- California, United States
- Type
- Buyout
An investment affiliate of J.F. Lehman & Company has acquired Mission Microwave Technologies, a Cypress, California-based maker of solid-state power amplifiers (SSPAs) and block upconverters (BUCs) for satellite communications. Debt financing for the transaction was led by Barings and co-led by PennantPark and SMBC; prior majority shareholders (affiliates of GaAs Labs LLC), founders and management will remain material shareholders.
-
January 9, 2024
- Buyer
- Heritage-Crystal Clean, Inc., J.F. Lehman & Company, LLC
- Target
- Envirosafe Services of Ohio, Inc.
- Industry
- Environmental Services
- Location
- Ohio, United States
- Type
- Addon
Heritage-Crystal Clean, Inc., a portfolio company of investment affiliates of J.F. Lehman & Company, has acquired Envirosafe Services of Ohio, a fully permitted hazardous waste treatment, storage and disposal facility. The deal expands Crystal Clean's hazardous waste infrastructure and processing capabilities, allowing the company to better support its commercial and industrial customer base.
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October 17, 2023
- Buyer
- J.F. Lehman & Company
- Target
- Heritage-Crystal Clean, Inc.
- Seller
- The Heritage Group, Brian Recatto, Heritage-Crystal Clean shareholders
- Industry
- Environmental Services
- Location
- Illinois, United States
- Type
- Buyout
An investment affiliate of J.F. Lehman & Company completed the all-cash acquisition of Heritage-Crystal Clean, Inc. ("Crystal Clean") at $45.50 per share, valuing the company at roughly $1.2 billion and taking it private. The transaction was financed with committed debt from Jefferies Finance LLC, Sumitomo Mitsui Banking Corporation and PSP Investments Credit USA LLC; key shareholders including The Heritage Group and CEO Brian Recatto supported the deal.
Related Acquisition Pages
Environmental Services Buyers & Acquisitions
8 tracked deals by J.F. Lehman & Company.
Aerospace & Defense Buyers & Acquisitions
7 tracked deals by J.F. Lehman & Company.
Industrial Services Buyers & Acquisitions
7 tracked deals by J.F. Lehman & Company.
Infrastructure Buyers & Acquisitions
4 tracked deals by J.F. Lehman & Company.
Acquisitions in Texas
5 tracked deals by J.F. Lehman & Company.
Acquisitions in Florida
3 tracked deals by J.F. Lehman & Company.
Acquisitions in Illinois
2 tracked deals by J.F. Lehman & Company.
Acquisitions in Michigan
2 tracked deals by J.F. Lehman & Company.
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