J.F. Lehman Acquires Vessel Preservation Specialist IMIA

Private equity investment firm J.F. Lehman & Company (JFLCO) reports that an investment affiliate has acquired International Marine & Industrial Applicators, LLC and Craft and Technical Solutions, LLC (collectively, IMIA) from IMIA Group, Inc.

Founded in 1985, IMIA provides vessel preservation services to the U.S. Navy and commercial maintenance, repair, and overhaul and new construction markets. Headquartered in Spanish Fort, AL with a presence in over 30 facilities nationally as well as in Japan, IMIA is a market leader in the surface preservation of hulls, tanks and other critical coated areas on Navy submarines, aircraft carriers, surface combatants and auxiliaries as well as commercial vessels.

"We are excited to be partnering with the IMIA management team and are pleased to welcome the company to the J.F. Lehman & Company portfolio," said Alex Harman, a Partner with JFLCO. "They are an excellent fit with our investment strategy given their leading market positions, long-standing customer relationships and outstanding workforce. In today's government and commercial marine marketplace, the need for high-quality, reliable, safe and cost-effective preservation solutions is growing, and IMIA offers a full-range of services to meet this demand."

Mike Keenan, President and CEO of IMIA commented, "J.F. Lehman & Company is a great partner for IMIA. They offer an excellent combination of unique expertise and relationships as well as capital to accelerate our growth. We look forward to continuing IMIA's proud heritage of providing best-in-class preservation services to the U.S. maritime industry."

Debt financing for the transaction was provided by Ares Management LLC.

Blank Rome LLP and Jones Day provided legal counsel to JFLCO. Mensura Capital, LLC and Mensura Securities, LLC served as the M&A financial advisors to IMIA Group, Inc. and Sheppard Mullin, Richter & Hampton LLP provided legal counsel. Kaufman & Canoles, PC provided legal counsel to IMIA in connection with its Employee Stock Ownership Plan.


The contents of this publication are intended for general information only and should not be construed as legal advice or a legal opinion on specific facts and circumstances. Copyright 2018.

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