#USA #New York #J.F. Lehman & Company #Wellman Dynamics #investment acquisition

J.F. Lehman & Company Completes Acquisition of Wellman Dynamics

In a significant move within the aerospace and defense sectors, J.F. Lehman & Company (JFLCO), a prominent alternative asset management firm, has announced the acquisition of a majority stake in Wellman Dynamics. This strategic investment marks a pivotal partnership aimed at expanding operations and driving growth for Wellman, a leader in producing high-complexity magnesium and aluminum sand castings for critical defense applications.

Understanding the Acquisition

On January 13, 2026, JFLCO revealed that its investment affiliate, JFL Equity Investor VI, L.P., has secured majority ownership in Wellman Dynamics. The current owner, TRM Equity, will maintain a meaningful minority share, ensuring continuity as Wellman embarks on its next growth phase. Wellman Dynamics, headquartered in Creston, Iowa, has firmly established its reputation over the past century as a vital supplier for many prominent aerospace and defense programs.

The company specializes in large-scale casting operations, particularly capable of producing components that weigh up to 4,000 lbs with over a hundred cores. Their advanced capabilities cater to both rotary wing and fixed-wing platforms, as well as aeroengine industries, facilitating the production of parts vital for blue-chip original equipment manufacturers (OEMs) that demand exceptional reliability and performance.

Strategic Intentions

In a statement regarding the acquisition, Alex Harman, the Managing Partner at JFLCO, expressed enthusiasm about the partnership. He noted, “Since its founding, Wellman has positioned itself as a critical supplier to the aerospace and defense sector, distinguishing itself through its engineering and production acumen.” Harman emphasized the importance of building upon Wellman’s strong foundations to further enhance its market presence and capabilities.

Ben Hatcher, a Managing Director at JFLCO, added that Wellman's specialized expertise in magnesium and aluminum alloys is unique within the global aerospace and defense supply chain. This acquisition enables JFLCO to leverage its operational insights to support existing customers while simultaneously seeking avenues for manufacturing capacity expansion and the development of new growth initiatives.

Comments from Wellman's Team

The sentiments from Wellman Dynamics' leadership echoed those of JFLCO, highlighting the excitement surrounding the partnership. Ralph Clendenin, the Chief Operating Officer of Wellman, remarked, "We are thrilled to partner with JFLCO as we enter the next chapter of Wellman's growth... Their deep sector knowledge and operational expertise make them an ideal partner for our business."

Financial Framework and Advisory

The financing for this acquisition was arranged by Netrex Capital Markets, which connected JFLCO with a lender group led by Eldridge Capital Management, with Guggenheim Investments and PGIM co-leading the financing efforts. Legal counsel for this transaction was provided by Blank Rome and Jones Day on behalf of JFLCO while Jefferies acted as the exclusive financial advisor to Wellman. Miller Johnson Snell Cummiskey also assisted in legal matters for Wellman and its minority partner TRM Equity.

About J.F. Lehman & Company

Founded in 1992, J.F. Lehman & Company specializes in sectors including aerospace, defense, government, maritime, and infrastructure, managing over $8 billion in assets across its private equity and credit strategies. With offices situated in New York and Washington, D.C., the firm continually seeks to identify and leverage unique investment opportunities in these specialized sectors. As JFLCO embarks on this new partnership with Wellman Dynamics, the industry watches closely as it unveils its ambitious plans for growth and innovation in the coming years.