ARLINGTON, Va., June 20, 2023 /PRNewswire/ -- Trident Maritime Systems ("Trident"), a leading maritime systems and solutions provider and portfolio company of investment affiliates of J.F. Lehman & Company ("JFLCO"), announced today that it has acquired the assets of Custom Alloy Corporation ("CAC") through one of its subsidiaries. CAC is a leading, vertically integrated provider of highly specialized alloyed forgings, fittings, and pipe to defense and industrial end users. With a strong reputation for complexity, quality, and on-time delivery, CAC is a critical supplier to the U.S. Navy on key programs, including nuclear submarines and aircraft carriers. Trident was the prevailing bidder in a Section 363 bankruptcy auction for the assets of CAC.
Tom Eccles, Chief Executive Officer of Trident, commented, "We are very excited to welcome the Custom Alloy Corporation employees into the Trident family. The success that the CAC team has achieved in penetrating the U.S. Navy market is a testament to the quality of their products and their deep technical expertise. We look forward to integrating CAC's capabilities and services into the Trident platform and delivering even more value to our customers."
"The acquisition of CAC expands our presence on key U.S. Navy nuclear vessel programs, a critical element of our growth strategy," said Alex Harman, Chairman of Trident and Partner at JFLCO. "Trident's growing scale and breadth of offerings allow us to more holistically partner with our shipbuilding customers to efficiently deliver the solutions required by them and the U.S. Navy."
Headquartered in Arlington, VA, Trident is a systems and solutions provider to government and commercial shipbuilders and ship operators across the globe with a comprehensive suite of complex, integrated maritime systems and service offerings. The company maintains operating locations strategically positioned near major naval and commercial shipbuilders across the U.S. and internationally.
Blank Rome and Keller Benvenutti Kim provided legal counsel to Trident. SSG Capital Advisors served as financial advisor to CAC and Rabinowitz, Lubetkin & Tully and Cole Schotz provided legal counsel to CAC.
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
Logo - https://mma.prnewswire.com/media/349934/j_f__lehman___company_logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/trident-maritime-systems-acquires-assets-of-custom-alloy-corporation-301855876.html
