The private equity firm J.F. Lehman & Co. on Monday said it has acquired a ship repair and services firm that serves the Naval and maritime industries.
Terms of the deal were not disclosed.
J.F. Lehman said it acquired International Maritime & Industrial Applicators, LLC and Craft and Technical Solutions, LLC, which are called IMIA collectively, from IMIA Group, Inc. IMIA provides vessel preservation services to the Navy, and commercial maintenance, repair, and overhaul, talent provision.
IMIA has more than 30 facilities throughout the U.S. and in Japan. J.F. Lehman says the company is the market leader in the surface preservation of hulls, tanks and other critical coated areas on Navy submarines, aircraft carriers, surface combatants and auxiliaries, and commercial vessels.
“They are an excellent fit with our investment strategy given their leading market positions, long-standing customer relationships and outstanding workforce,” Alex Harman, a partner with J.F. Lehman, said in a statement. “In today’s government and commercial marine marketplace, the need for high-quality, reliable, safe and cost-effective preservation solutions is growing, and IMIA offers a full-range of services to meet this demand.”
IMIA’s financial adviser on the deal was The Mensura Companies.