A US private equity firm has acquired a majority shareholding of W.S.S. Holding A/S and its subsidiaries (Wrist).
Aalborg-headquartered ship and offshore supplier of provisions, stores and spare parts logistics Wrist has been acquired by J.F. Lehman & Company (JFLCO), a US private equity firm with deep sector experience in the maritime industry, from its previous owner, Altor Fund II (Altor).
JFLCO, with offices in New York and Washington, D.C., said in a statement on Tuesday that it will partner with Wrist’s current sponsor, Altor Equity Partners, and the company’s management team, “who will both remain significant shareholders as Wrist embarks on its next phase of growth.”
Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries.
Under Altor’s ownership, Wrist has strengthened its market presence through 19 acquisitions including recent expansions in Busan, South Korea and four major Brazilian ports in 2024.
Jens Holger Nielsen, Group CEO Wrist, said: “We are thrilled to join forces with JFLCO, whose vision and track record in the maritime industry make them an ideal partner for our next stage of growth.”
“We are grateful for the support and guidance of Altor over the past 17 years, and we are very pleased that the Altor partnership has reinvested in the business alongside JFLCO,” he continued.
Will Hanenberg, managing director at J.F. Lehman & Company and the new chairman of Wrist, noted: “Wrist is an outstanding fit with our investment strategy. Its strong positioning with blue-chip customers, differentiated logistics capabilities and innovative digital solutions are transforming the maritime supply chain. We are eager to support the company’s growth ambitions and long-term success.”
