Forgings specialist Forged Solutions Group acquired by J.F. Lehman & Company
Investment manager J.F. Lehman & Company has acquired Forged Solutions Group, Inc. with investment affiliates, including JFL Equity Investors VI, L.P.
Forged Solutions Group specialises in forgings for the aerospace, defence and space markets, supplying a global customer base from its established sites across the UK and USA. With a particular focus on flight-critical, rotating aeroengine components, services include comprehensive design-for-manufacturing assistance, heat treatment, machining and world-class materials testing and certification – from billet to finished, tested forgings.
Since its launch in 1836, the company provides vertically-integrated rolled rings, closed die, extrusion, and open die forging capabilities across a range of alloys, including nickel, titanium, steel and aluminum in support of global OEM and Tier 1 customers. With its HQ in Sheffield, U.K., it operates seven manufacturing facilities across the U.K. and U.S. and employs approximately 840 people.
Olivier Jarrault, Chief Executive Officer of FSG, said:
“JFLCO’s sector and operational expertise and deep industry relationships make them an ideal partner for FSG’s next chapter of growth. We look forward to further strengthening FSG’s position as a trusted supplier of critical forgings for global aerospace and defense programs.”
J.F. Lehman & Company is an alternative asset manager focusing on the aerospace, defense, government, maritime, environmental and infrastructure sectors. With offices in New York and Washington D.C., the company has operated for over three decades and its maritime portfolio includes Wrist, providing supply logistics and budget management services for the maritime industry, and IMIA, which provides critical vessel preservation, scaffolding, environmental containment and other related services to the U.S. government and commercial marine new construction and maintenance, repair and overhaul (“MRO”) markets.
Alex Harman, Managing Partner at JFLCO, commented:
“FSG is a uniquely diversified and scaled aerospace forgings platform operating in one of the most technically demanding and capacity constrained segments of the supply chain.
“We believe the Company is advantageously positioned to address growing long-term demand in its core aerospace, defense, and space end markets and look forward to partnering with management in support of FSG’s strategic growth initiatives.”
Financing for the transaction was led by HPS Investment Partners’ Direct Lending platform, with Audax Private Debt serving as joint lead arranger. Evercore acted as financial advisor to JFLCO and Jones Day served as legal counsel. Goldman Sachs and Perella Weinberg served as financial advisors to FSG. Sheppard Mullin served as legal counsel to FSG.
Ben Hatcher, Managing Director at JFLCO, concluded:
“FSG’s expansive forging capabilities, diverse product portfolio, and meaningful available capacity form a compelling and critical solution to the broader aerospace and defense industry’s production requirements. We are excited to build upon FSG’s differentiated technical capabilities and scaled operational footprint to increase throughput in support of current and next-generation aeroengine and defense platforms.”
Ben Hatcher – Managing Director at JFLCO