For Immediate Release
November 19, 2013
NEW YORK – J.F. Lehman & Company (“J.F. Lehman”), a leading middle-market private equity firm focused on the maritime, defense and aerospace sectors, announced today that it has sold its portfolio company, ACR Electronics, Inc. (“ACR”) to affiliates of The Jordan Company (“TJC”). ACR is a leading provider of safety and survival solutions including emergency rescue beacons and safety and signaling lighting to aviation, marine, military and outdoor customers. The Company is headquartered in Ft Lauderdale, Florida and serves the safety and survival markets worldwide primarily under the ACR and Artex brand names. The terms of the transaction were not disclosed.
“We’ve made substantial progress in partnership with J.F. Lehman,” said Michael Wilkerson, CEO of ACR. “J.F. Lehman has been genuinely supportive of our efforts to introduce new products, address new commercial and military markets worldwide and focus on operational excellence.”
Steve Brooks, Partner at J.F. Lehman, said, “The ACR team has done a great job since our acquisition. We’re proud of the results we’ve achieved together and believe the business represents a strong platform for additional growth.”
Simultaneously with this transaction, TJC also acquired J.F. Lehman’s portfolio company Drew Marine, the leading independent global manufacturer and provider of advanced performance chemicals and safety solutions to virtually every sector of the international maritime and offshore markets.
Evercore Group LLC and Rothschild, Inc. served as financial advisors to J.F. Lehman and Jones Day provided legal counsel.