M&A Deal Summary

J.F. Lehman & Company Acquires Integrated Global Services

On February 4, 2020, private equity firm J.F. Lehman & Company acquired chemicals company Integrated Global Services from Industrial Growth Partners

Acquisition Highlights
  • This is J.F. Lehman & Company’s 2nd transaction in the Chemicals sector.
  • This is J.F. Lehman & Company’s 33rd transaction in the United States.
  • This is J.F. Lehman & Company’s 4th transaction in Virginia.

M&A Deal Summary

Date 2020-02-04
Target Integrated Global Services
Sector Chemicals
Buyer(s) J.F. Lehman & Company
Sellers(s) Industrial Growth Partners
Deal Type Secondary Buyout
Advisor(s) Harris Williams & Co. (Financial)

Target

Integrated Global Services

Richmond, Virginia, United States
Integrated Global Services is a provider of highly 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.

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Buyer(S) 1

Buyer

J.F. Lehman & Company

New York, New York, United States

Investor 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 37 of 45
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 2 of 4
State (Virginia) 4 of 4
Country (United States) 33 of 41
Year (2020) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 Global Marine Group

Chelmsford, United Kingdom

Global Marine Group is a provider of engineering and underwater services, responding to the subsea cable installation, maintenance, and burial requirements. Global Marine Group was founded in 1983 and is based in Chelmsford, United Kingdom.

Buy $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-05 Ravn Air

Anchorage, Alaska, United States

Ravn Air is a provider of regional air transportation and logistics services in the state of Alaska. Ravn Air is based in Anchorage, Alaska.

Sell -

Seller(S) 1

SELLER

Industrial Growth Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Industrial Growth Partners (IGP) is a private equity firm that invests in privately held, lower middle-market manufacturing and manufacturing services companies. Specific areas of interest include industrial components and equipment, electrical and electronic equipment, process instrumentation and controls, analytical instruments and measuring devices, filtration and pumps, specialty chemicals, plastics, and healthcare/safety equipment. Prospective transaction situations include management buyouts, leveraged buyouts, corporate divestitures, recapitalizations, management buy-ins, and growth capital financings. Target companies typically are profitable and have annual revenues up to $250 million. IGP was formed in 1997 and is based in San Francisco, California.


DEAL STATS #
Overall 25 of 33
Sector (Chemicals) 2 of 2
Type (Secondary Buyout) 13 of 14
State (Virginia) 1 of 1
Country (United States) 25 of 33
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-12 ASPEQ Heating Group

St. Louis, Mississippi, United States

ASPEQ Heating Group is a provider of custom-configured electric heating and thermal management products to the industrial, commercial, military, marine, and transportation markets. ASPEQ serves a highly diversified customer base and provides over 30 distinct product categories, including immersion and circulation heaters, duct heaters, tubular elements, unit and comfort heaters, and explosion-proof heaters, among others, as well as integrated controls and spare parts. Products are marketed through a multi-channel approach under the longstanding and well-known INDEECO, Heatrex, AccuTherm, and Brasch brands. ASPEQ Heating Group was formed in 2008 and is based in St. Louis, Mississippi.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-30 Hydromax

Evansville, Indiana, United States

Hydromax is a professional services company specializing in data collection for the purposes of locating and assessing the condition of water, wastewater, and natural gas conveyance systems. Hydromax was founded in 2003 and is based in Evansville, Indiana.

Buy -