The private equity firm J.F. Lehman & Co. last week said it has acquired US Joiner LLC, a small firm that furnishes government and commercial maritime vessels.
Terms of the deal were not disclosed. US Joiner, which is based in Central Virginia, has about 500 employees at several locations across the United States.
US Joiner furnishes offices, hospital rooms, galleys and dining halls, bathrooms, laundries, bedrooms, passageways and more on Navy and commercial ships and yachts.
US Jointer 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.
David Rathburn, president and CEO of US Joiner, said the investment by JF Lehman gives his company “capital to accelerate our growth.”
SunTrust Bank provided debt financing to J.F. Lehman for the deal. Stifel Nicolaus Weisel served as US Joiner’s financial adviser.