For Immediate Release
December 18, 2009
NEW YORK – J.F. Lehman & Company (“JFL”) is pleased to announce the acquisition of Drive Dynamics’ run-flat tire business. Drive Dynamics is a leader in developing new, innovative run-flat tire systems for U.S. Government markets, ensuring that their customers’ rigorous performance requirements are met while providing a solution that is much easier to install and change in the field relative to traditional run-flat tire products.
The Drive Dynamics run-flat tire business was purchased by Defense Venture Group (“DVG”), a JFL portfolio company, and will form DVG’s newest business unit, Tactical Run-flat Systems (“TRS”). DVG is a leading provider of force protection systems for the U.S. Government, including purpose-built, low profile armored vehicles and transparent ceramic Spinel – a revolutionary material whose combination of high-hardness, lightweight and broadband optical transmission properties make it ideal for transparent armor and sensor applications. This acquisition and the creation of TRS are expected to further diversify DVG’s product offering and provide Drive Dynamics’ run-flat tire business the support needed to ensure that the U.S. Government is provided with this superior system.
John M. Zinn, President and CEO of DVG, stated, “Drive Dynamics’ run-flat tire business is an excellent addition to DVG and a highly complementary fit with DVG’s other business units. We look forward to providing this superior technology the support it needs and growing Tactical Run-flat Systems to better serve our customers and the defense marketplace.”
Gibson, Dunn & Crutcher and Blank Rome provided legal counsel to J.F. Lehman & Company and DVG.