J.F. Lehman & Company has sold Northeast Ship Repair to Plexus Capital and NewSpring Capital
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Northeast Ship Repair, Inc. (“Northeast” or the “Company”) has been sold to Plexus Capital and NewSpring Capital. Northeast was a portfolio company of J.F. Lehman & Company (“J.F. Lehman”), a private equity firm based in New York, NY.
Based in Boston, Massachusetts, Northeast is a leading provider of large vessel maintenance, repair and overhaul (“MRO”) services for U.S. Government non-combatant fleet and commercial customers. Northeast operates two strategically located drydocks in Boston, Massachusetts and Philadelphia, Pennsylvania that are capable of servicing vessels in excess of 750 feet in length. The Company’s comprehensive technical capabilities enable it to provide a full spectrum of MRO services.
Lincoln International acted as the exclusive financial advisor to Northeast and J.F Lehman, working closely with the management team and shareholders throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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