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Tracker · Private equity

J.F. Lehman & Company: Defense Investment History

13 defense buys: 8 by the firm and 5 add-ons by companies it backs. It sold 6 businesses in that time.

J.F. Lehman & Company and the companies it backs made the most defense buys in 2026: 4

Buys by the firm and add-ons by companies it backs, by year announced.

Bought by the firmAdd-ons by companies it backs
2020 2 + 02
2021 2 + 13
2022 0 + 11
2023 0 + 11
2024 1 + 01
2025 1 + 01
2026 2 + 24

Source: company, investor and government releases and SEC filings.

TGOs tgos.io

Bought by the firm 8

Mar 202602

Arlington Capital Partners sells Forged Solutions Group to J.F. Lehman & Company

Buyer: J.F. Lehman & Company

A global provider of complex, precision forgings to aerospace, defense and space customers

aerostructurescomponents and materialspropulsionSource
UndisclosedClosed Mar 2, 2026
Jan 202613

J.F. Lehman & Company buys Wellman Dynamics

Seller: TRM Equity

Large-scale, high complexity magnesium and aluminum sand castings for aerospace and defense applications

aerostructurescomponents and materialsSource
UndisclosedClosed Jan 13, 2026
Mar 202511

J.F. Lehman & Company buys Wrist

Seller: Altor Equity Partners

Marine supply, logistics and budget management services for the maritime industry

shipbuilding and maritimeMRO and sustainmentSource
UndisclosedClosed
Mar 202414

J.F. Lehman & Company buys Mission Microwave

Seller: GaAs Labs

Solid-State Power Amplifiers and Block Upconverters for the satellite communications market

spaceC4ISR and electronicscomponents and materialsSource
UndisclosedClosed Mar 14, 2024
Oct 202129

L3Harris sells Narda-MITEQ business to Investment affiliate of J.F. Lehman & Company

Buyer: Investment affiliate of J.F. Lehman & Company

Custom radiofrequency and microwave subsystems and components for defense and commercial end markets

C4ISR and electronicsEW and sensorsSource
$75 millionClosed Dec 6, 2021
Mar 202131

J.F. Lehman & Company buys Trillium Engineering

Designer and manufacturer of highly engineered camera gimbals for unmanned aerial systems performing intelligence, surveillance and reconnaissance missions

autonomy and dronesEW and sensorsSource
UndisclosedClosed
Dec 202028

J.F. Lehman & Company buys CTS Engines

Independent provider of maintenance, repair and overhaul services for mature aircraft engines

MRO and sustainmentpropulsionSource
UndisclosedClosed
Dec 202009

J.F. Lehman & Company buys CodeMettle

Custom software development and proprietary software solutions for the management of critical communication networks

C4ISR and electronicsSource
UndisclosedClosed

Add-ons by companies it backs 5

Jul 202602

Wrist Group agrees to buy Military Services Australia

Backed by J.F. Lehman & Company

Husbanding and maritime logistics services supporting defense and naval operations across Australia and the Indo-Pacific

shipbuilding and maritimeMRO and sustainmentSource
UndisclosedAnnounced
Jun 202618

Forged Solutions Group buys Custom Alloy

Backed by J.F. Lehman & Company

Manufacturer of forged components; vertically integrated provider of specialized forgings, fittings and pipe to defense and industrial end users

shipbuilding and maritimecomponents and materialsnuclearSource
UndisclosedClosed Jun 18, 2026
Jun 202320

Trident Maritime Systems buys Custom Alloy

Backed by J.F. Lehman & Company

Vertically integrated provider of highly specialized alloyed forgings, fittings and pipe to defense and industrial end users

shipbuilding and maritimecomponents and materialsnuclearSource
UndisclosedClosed
Jan 202213

Narda AcquisitionCo buys Intelligent RF Solutions

Backed by J.F. Lehman & Company

RF and microwave systems and subsystems for mission-critical military and intelligence community applications

EW and sensorsintelligence communitySource
UndisclosedClosed Jan 13, 2022
Apr 202116

International Marine and Industrial Applicators buy Main Industries

Backed by J.F. Lehman & Company

Preservation, scaffolding and environmental containment services to the marine vessel new construction and maintenance, repair and overhaul markets

shipbuilding and maritimeMRO and sustainmentSource
UndisclosedClosed

Sold 6

Oct 202513

Trident Maritime Systems sells AGI to DC Capital Partners

Buyer: DC Capital Partners · Backed by J.F. Lehman & Company

Highly engineered electronic systems that support landing, navigation, communications and other mission-critical naval applications

C4ISR and electronicsshipbuilding and maritimeSource
UndisclosedClosed
Jul 202523

J.F. Lehman & Company sells Narda-MITEQ to Amphenol

Buyer: Amphenol

Advanced radiofrequency and microwave components and subsystems for defense and commercial end markets

EW and sensorsC4ISR and electronicsSource
UndisclosedClosed Jul 23, 2025
Nov 202404

Trident Maritime Systems sells Hoffman Engineering to Branford Castle Partners

Buyer: Branford Castle Partners · Backed by J.F. Lehman & Company

Situational awareness solutions, including LED lighting products and night vision imaging systems

EW and sensorscomponents and materialsSource
UndisclosedClosed
Jun 202215

Trident Maritime Systems sells Cannon Mining division to J.H. Fletcher &

Buyer: J.H. Fletcher & · Backed by J.F. Lehman & Company

Underground mining equipment, including drill jumbos, scalers and roof bolters

shipbuilding and maritimeSource
UndisclosedClosed Jun 15, 2022
Nov 202111

J.F. Lehman & Company sells IMIA to Investment affiliates of The Carlyle Group and Stellex Capital Management

Buyer: Investment affiliates of The Carlyle Group and Stellex Capital Management

Marine preservation, structural, scaffolding and environmental containment, and staffing services for the maintenance, repair, and overhaul and construction of the U.S. Navy fleet

shipbuilding and maritimeMRO and sustainmentSource
UndisclosedClosed Nov 11, 2021
Aug 202117

Quantic Electronics buys BEI Precision

Seller: J.F. Lehman & Company · Backed by Arcline Investment Management

Designs, engineers and manufactures position feedback sensors and frequency reference technologies for mission-critical space, land, air and sea applications.

EW and sensorscomponents and materialsspaceSource
UndisclosedClosed Aug 17, 2021

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