Drew Marine Moves To New Headquarters

For Immediate Release

July 30, 2010

Whippany, NJ – Drew Marine has moved its headquarters to 100 South Jefferson Road in Whippany, NJ. The company is a worldwide supplier of water treatment, fuel management, safety, maintenance and cleaning products to the maritime industry.

Drew Marine was acquired by J.F. Lehman & Company in 2009 from Ashland, Inc. where it had been an operating unit since 1982. The move represents yet another milestone in Drew Marine’s efforts to complete its transition to an independent standalone enterprise.

In addition to the headquarters move, Drew’s Technology Center recently relocated from the Boonton campus to 46 DeForest Avenue in East Hanover, NJ.

“The transition from Ashland to J.F. Lehman has gone well,” said Len Gelosa, Drew Marine’s President and CEO. “We have been able to focus on serving our customers and attaining our growth objectives, and the business continues to perform well.”

Dan Kelleher, Senior Vice President of Marketing, said, “The new space allows us to expand our marine technology research and development in a dedicated facility within close proximity to our new corporate headquarters. We are a company committed to serving our customers and expanding our market, and our new locations will allow us to more efficiently satisfy market demands and customer needs.”

Drew Marine operates in forty-seven countries and executes deliveries in more than 900 ports worldwide.

J.F. Lehman & Company is a private equity investment firm that focuses exclusively on acquiring middle market companies in the defense, aerospace and maritime industries and the technologies that originate from them. It has offices in New York, Washington and London.

Contact:
Rich Mansmann
Drew Marine
973-526-5740
rlmansmann@drew-marine.com

J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the defense, aerospace, and maritime sectors. The firm has offices in New York and Washington.

For more information about J.F. Lehman & Company, please visit www.jflpartners.com.

Contact

Lisa M. Steffens

J.F. Lehman & Company

(212) 634-1150

lms@jflpartners.com