#USA #New York #Acquisition #J.F. Lehman #Wrist

J.F. Lehman & Company Acquires Majority Stake in Wrist

On March 11, 2025, J.F. Lehman & Company (JFLCO), a highly regarded private equity firm focusing on the aerospace, defense, government, maritime, environmental, and infrastructure sectors, announced its acquisition of a majority shareholding in W.S.S. Holding A/S, commonly referred to as Wrist. This strategic acquisition marks an important step for JFLCO as it continues to expand its portfolio in the maritime industry.

Partnership with Management Team

The acquisition will see JFLCO collaborating closely with Wrist's current sponsor, Altor Equity Partners, as well as the company’s management team, which will remain significant shareholders in this new phase of growth for Wrist. Located in Aalborg, Denmark, Wrist has established itself as a leading player in the marine supply and logistics sector, specializing in budget management services for the maritime industry. With a legacy that spans over 70 years, Wrist employs around 2,275 staff and operates across more than 35 locations, providing services to over 750 ports worldwide.

Transforming Maritime Supply Chains

Wrist is recognized for its innovative efforts in simplifying the maritime supply chain through its comprehensive and integrated service offerings. The company has been instrumental in leading the digitization of the maritime sector. Alex Harman, a Partner at JFLCO and the new Director of Wrist, expressed enthusiasm about the partnership, stating, "Wrist has built a world-class reputation for simplifying the maritime supply chain, and we are excited to work with the Wrist team and Altor as we add this vital company to our portfolio."

Furthermore, Will Hanenberg, Managing Director at JFLCO and the newly appointed Chairman of Wrist, emphasized that the acquisition aligns perfectly with JFLCO's investment strategy. He noted, "Wrist’s strong positioning with reputable customers, differentiated logistics capabilities, and innovative digital solutions are transforming the maritime supply chain. We look forward to supporting the company’s growth ambitions and long-term success."

Expertise and Resources for Growth

Wrist’s Group CEO, Jens Holger Nielsen, welcomed the partnership, stating that J.F. Lehman & Company brings valuable expertise and resources that will help accelerate the company's growth trajectory. He is optimistic about leveraging the support from JFLCO to continue delivering exceptional and innovative services to customers globally.

To facilitate this acquisition, a Nordic bond offering was arranged by ABG Sundal Collier, which acted as the Sole Global Coordinator. Danske Bank served as Joint Bookrunner, providing a revolving credit facility as well. Additionally, ABG Sundal Collier served as the financial advisor to JFLCO, while Jones Day and Gorrissen Federspiel provided legal counsel for JFLCO. On the other hand, Bank of America functioned as the financial advisor for Wrist, with legal support from Kromann Reumert. This transaction showcases a strong coordinated effort aimed at ensuring a smooth transition and successful partnership.

About J.F. Lehman & Company

J.F. Lehman & Company has been a prominent name in private equity since its founding in 1992, focusing exclusively on sectors such as aerospace, defense, maritime, government, and environmental industries. With offices in New York and Washington, D.C., JFLCO aims to invest in companies that demonstrate strong growth potential and align with their mission of fostering innovation and efficiency in critical sectors.

This acquisition not only marks a significant milestone for JFLCO but also promises to usher Wrist into a new phase of innovation and growth in the maritime industry. As both firms collaborate for future success, industry experts believe that this partnership could redefine operational efficiencies and service excellence within the maritime supply chain.