J.F. Lehman & Company Expands Portfolio with Acquisition of Wrist

On March 11, 2025, J.F. Lehman & Company (JFLCO), a premier private equity firm known for its investments in aerospace, defense, maritime, and government sectors, revealed its acquisition of a significant share of W.S.S. Holding A/S, better known as Wrist. This partnership signifies a pivotal move not only for JFLCO but also for Wrist as it aims to elevate its service offerings within the maritime industry.

A Strategic Partnership

Located in Aalborg, Denmark, Wrist is recognized as a global authority in marine supply, logistics, and budget management services. With its vast experience dating back to 1953, Wrist collaborates with an expansive network to ensure the timely delivery of provisions, stores, and spare parts to vessels operating in over 750 ports worldwide. Employing approximately 2,275 staff across 35 locations, the company is positioned as a vital player in the maritime supply chain.

As part of the strategic partnership, JFLCO will be collaborating with previous sponsor Altor Equity Partners, along with Wrist's existing management team, who will continue as significant shareholders in the company. This collaboration aims to drive Wrist into a new growth phase while capitalizing on JFLCO's resources and expertise.

Insights from Leadership

Alex Harman, Partner at JFLCO and newly appointed Director of Wrist, expressed enthusiasm regarding the partnership, stating, "Wrist has built a world-class reputation for simplifying the maritime supply chain through its integrated, end-to-end service offerings and efforts to lead the digitization of this sector." Harman expressed confidence in Wrist's management and the future growth opportunities the partnership would foster.

Will Hanenberg, JFLCO's Managing Director, echoed these sentiments, describing Wrist as an exceptional fit within their investment strategy. He highlighted the company's robust relationships with blue-chip customers, unique logistics capabilities, and commitment to innovative digital solutions as essential components in transforming the maritime supply chain. "We are eager to support the company's growth ambitions and long-term success," he remarked.

Jens Holger Nielsen, the Group CEO of Wrist, expressed optimism about the collaboration, indicating that JFLCO's expertise will play a crucial role in accelerating the growth trajectory of Wrist. "We look forward to leveraging their experience and support as we continue our legacy of delivering exceptional, innovative services to customers worldwide," he added.

Financial Backing and Infrastructure

To facilitate this acquisition, a Nordic bond offering was orchestrated by ABG Sundal Collier, which served as the Sole Global Coordinator, along with Danske Bank as Joint Bookrunner. Danske Bank also entered into the equation by providing a revolving credit facility essential for the transaction.

Advisory roles were strategically assigned, with ABG Sundal Collier advising JFLCO, while Bank of America acted as the financial advisor for Wrist. The legal framework of the deal was supported by established firms, including Jones Day and Gorrissen Federspiel for JFLCO and Kromann Reumert advising Wrist and its majority equity shareholders.

About J.F. Lehman & Company

Founded in 1992, J.F. Lehman & Company has carved a niche in private equity, with a dedicated focus on sectors such as aerospace, defense, maritime, and government. With offices in both New York and Washington, D.C., JFLCO continues to enhance its portfolio through strategic acquisitions and partnerships. As they integrate Wrist into their operations, both companies look forward to an exciting era that promises to innovate and elevate service standards within the maritime supply chain.

In conclusion, J.F. Lehman & Company's acquisition of Wrist reflects a strategic foresight poised to reshape the logistics landscape of maritime services. As both institutions collaborate, the maritime supply chain can expect enhanced efficiency, digital transformation, and unparalleled service excellence.