The private equity firm J.F. Lehman & Company on Thursday said it has acquired American Scaffold in partnership with company management, adding to its portfolio of companies in the maritime industry.
Terms of the deal were not disclosed.
American Scaffold, which is based in San Diego, provides scaffolding systems and environmental containment solutions for the maintenance, repair and overhaul of United States government vessels, including Navy ships. The company has about 300 employees across the U.S.
American Scaffold is “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 scaffolding solutions is growing, and American Scaffold offers a full-range of services to meet this demand.”
Mick Ruis, CEO of American Scaffold, said the partnership with J.F. Lehman gives his company access to capital to accelerate its growth.
American Scaffold’s financial adviser on the deal was Parallax Equity Partners. BNP Paribas provided debt financing for the transaction.