AUGUST 8, 2014 — Private equity firm J.F. Lehman & Company reports that affiliates of its portfolio company USJ-IMECO Holding Company, LLC have acquired Montreal, Quebec, based Joiner Systems, Inc.
Joiner Systems primarily designs, engineers, and manufactures accommodation systems for commercial and government ships.
USJ-IMECO is a leading independent provider of turnkey marine joiner, distributed systems and electro-mechanical solutions for government and commercial customers involved in new ship construction and vessel maintenance, repair and overhaul. Headquartered in Crozet, VA, and Iron Mountain, MI, the company employs approximately 700 people across the United States. USJ and IMECO were acquired by J.F. Lehman & Company in 2011 and 2012, respectively, and later combined into an entity that has completed several strategic acquisitions adding both capability and geographic reach.
Tom Eccles, Chief Executive Officer of USJ-IMECO, said, "We are very pleased to welcome Joiner Systems and its employees to the USJ-IMECO family. The addition of Joiner Systems adds a highly complementary set of design, manufacturing and installation solutions and capabilities to the USJ-IMECO platform to better serve our customers. This acquisition also strengthens our presence in Canada and improves our ability to support shipyards implementing the Canadian National Shipbuilding Procurement Strategy."
Former owners Zack and Spyros Papachristou will continue to play key leadership roles in the Joiner Systems division.
Zack Papachristou stated, "Spyros and I believe the combination of USJ-IMECO and Joiner Systems is in the best interest of our employees and our customers. We've found a true business partner in USJ-IMECO and JFLCO with extremely deep contacts and resources in the markets we serve."
Blank Rome LLP and Gowling Lafleur Henderson LLP provided legal counsel to USJ-IMECO.