M&A Deal Summary

J.F. Lehman & Company Acquires Atomic Transport

On February 20, 2025, private equity firm J.F. Lehman & Company acquired environmental company Atomic Transport from Comvest Partners

Acquisition Highlights
  • This is J.F. Lehman & Company’s 5th transaction in the Environmental sector.
  • This is J.F. Lehman & Company’s 42nd transaction in the United States.
  • This is J.F. Lehman & Company’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2025-02-20
Target Atomic Transport
Sector Environmental
Buyer(s) J.F. Lehman & Company
Sellers(s) Comvest Partners
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Scudder Law Firm (Legal)

Target

Atomic Transport

Chattanooga, Tennessee, United States
Atomic Transport is a provider of outsourced long‐haul waste transport and transfer station management for waste companies in the U.S. Atomic transports municipal solid, liquid, and construction & demolition waste from transfer stations to landfills, manages terminal stations, and offers unique landfill services to its customer base. Atomic Transport was founded in 2015 and is based in Chattanooga, Tennessee.

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Buyer(S) 1

Buyer

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 4.5B USD
Size Large
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.


DEAL STATS #
Overall 46 of 47
Sector (Environmental) 5 of 5
Type (Secondary Buyout) 5 of 6
State (Tennessee) 1 of 1
Country (United States) 42 of 42
Year (2025) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-14 Mission Microwave Technologies

Cypress, California, United States

Mission Microwave Technologies is a provider of Solid-State Power Amplifiers (SSPAs) and Block Upconverters (BUCs) to the satellite communications market. Mission Microwave Technologies was founded in 2014 and is based in Cypress, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-06 Integrated Global Services

Richmond, Virginia, United States

Integrated Global Services provides engineered, proprietary surface protection solutions and technologies to a diversified global customer base. The Company’s technologies and services solve metal wastage and reliability problems in mission-critical equipment found across energy, power generation and other industrial end markets. Integrated Global Services was founded in 2010 and is based in Richmond, Virginia.

Sell -

Seller(S) 1

SELLER

Comvest Partners

West Palm Beach, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 7.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Comvest Partners' headquarters in West Palm Beach, Florida.
Comvest Partners' headquarters in West Palm Beach, Florida.

Comvest Partners is a private investment firm that provides equity and debt capital to middle-market companies across North America. Comvest funds a variety of investment situations, including buyouts, divestitures, recapitalizations, consolidations, take privates, and turnarounds. Sectors of interest include business services, information services, education, financial services, healthcare services, software, IT, and transportation. For equity investments, Comvest prefers control and looks to invest $50 to $150 million per transaction. For debt needs, Comvest seeks to provide $25 to $250 million per transaction. Comvest Partners was formed in 2000 and is based in West Palm Beach, Florida.


DEAL STATS #
Overall 41 of 41
Sector (Environmental) 1 of 1
Type (Secondary Buyout) 6 of 6
State (Tennessee) 4 of 4
Country (United States) 41 of 41
Year (2025) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-11 Bland Landscaping

Apex, North Carolina, United States

Bland Landscaping is a provider of landscape design, installation, enhancement, and maintenance services for commercial properties and high-end residential estates. Bland Landscaping was established in 1976 and is based in Apex, North Carolina.

Buy -