NEW YORK, March 10, 2025 /PRNewswire/ — J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government, environmental and infrastructure sectors, announced today that investment affiliates have sold Global Marine Group (“GMG” or the “Company”) to Keppel Infrastructure Fund (“KIF”). Terms of the transaction were not disclosed.
With a legacy dating to 1850, Global Marine Group is a leading provider of subsea telecom maintenance and installation services, supporting mission-critical global communications infrastructure. Headquartered in the United Kingdom, the Company serves a diverse base of customers with high-reliability solutions that ensure the integrity and performance of undersea networks worldwide.
Since acquiring GMG in 2020, JFLCO worked closely with management to refocus the business on its core telecom market, driving earnings growth and positioning the Company for long-term success. Under JFLCO’s ownership, GMG optimized its operations, enhanced its service offerings, and strengthened relationships with key global customers. As a result, the Company is now the leading independent provider of value-added maintenance and installation services to the subsea telecom industry.
“Our successful partnership with management has transformed Global Marine Group into a focused, growing enterprise, playing an essential role in global telecom infrastructure,” said Alex Harman, Chairman of GMG’s Board of Directors and Partner at JFLCO.
Bruce Neilson-Watts, Chief Executive Officer of GMG, commented, “This transaction reflects the strength of our market position, operational expertise, and dedicated team. JFLCO’s support in refining our strategy has enabled us to cement our focus on our core telecoms market that is currently experiencing a period of unprecedented growth, which GMG is well placed to support. We are excited to build on our successes with our new partners at KAIF.”
“We are incredibly proud of the work Bruce and his team have done to make GMG a leader in safeguarding the world’s critical subsea communications infrastructure,” added Will Hanenberg, a member of GMG’s Board of Directors and Managing Director at JFLCO. “With demand for secure and resilient undersea networks continuing to grow, GMG is uniquely positioned to ensure the reliability of these vital global connections. We believe KIF is the ideal partner to support the Company in its next phase of growth.”
Evercore served as exclusive financial advisor to JFLCO, and Jones Day (lead counsel) and Blank Rome (maritime) provided legal advice.
About J.F. Lehman & Company, Inc.
Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C.
http://www.jflpartners.com
SOURCE J.F. Lehman & Company
