For Immediate Release
June 30, 2011
NEW YORK – J.F. Lehman & Company (“J.F. Lehman”), a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors, announced today that it has acquired US Joiner LLC and Turnbull LLC (together, “US Joiner”) in partnership with company management.
US Joiner is the leading independent domestic provider of turnkey marine joiner and furniture solutions for U.S. Government and commercial customers. Headquartered in Crozet, VA, the company employs approximately 500 employees across the United States.
“We are excited to be partnering with the US Joiner and Turnbull management teams and are pleased to welcome the companies to the J.F. Lehman & Company portfolio,” said Alex Harman, a Partner with J.F. Lehman & Company. “They are an excellent fit with our investment strategy given their leading market positions, long-standing customer relationships, and outstanding workforce. In today’s government and commercial marine marketplace, the need for innovative, high-quality, cost-effective solutions is growing, and US Joiner and Turnbull offer a full-range of products and services to meet this demand.”
David Rathburn, President and CEO of US Joiner commented, “J.F. Lehman & Company is the ideal partner for US Joiner and Turnbull. They offer an excellent combination of unique expertise and relationships as well as capital to accelerate our growth. We look forward to continuing US Joiner and Turnbull’s proud heritage of providing unique joiner services and furniture products to the domestic and international maritime and oil and gas industry.”
Debt financing for the transaction was provided by SunTrust Bank.
Blank Rome LLP provided legal counsel to J.F. Lehman & Company. Stifel Nicolaus Weisel, Grossman, Yanak & Ford LLP, and Feil, Pettit & Williams PLC advised Gatewick Enterprises, Inc.