J.F. Lehman & Company Acquires US Joiner LLC and Turnbull LLC

NEW YORK, June 30, 2011 -

J.F. Lehman & Company (”J.F. Lehman”), a leading
middle-market private equity firm focused on the defense, aerospace
and maritime sectors, announced today that it has acquired US
Joiner LLC and Turnbull LLC (together, “US Joiner”) in partnership
with company management.

(Logo: href="photos.prnewswire.com/prnh/20091221/NY29520LOGO">photos.prnewswire.com/prnh/20091221/NY29520LOGO
)

US Joiner is the leading independent domestic provider of
turnkey marine joiner and furniture solutions for U.S. Government
and commercial customers. Headquartered in Crozet, VA, the company
employs approximately 500 employees across the United States.

“We are excited to be partnering with the US Joiner and Turnbull
management teams and are pleased to welcome the companies to the
J.F. Lehman & Company portfolio,” said Alex Harman, a Partner
with J.F. Lehman & Company. “They are an excellent fit with our
investment strategy given their leading market positions,
long-standing customer relationships, and outstanding workforce.
 In today’s government and commercial marine marketplace, the
need for innovative, high-quality, cost-effective solutions is
growing, and US Joiner and Turnbull offer a full-range of products
and services to meet this demand.”

David Rathburn, President and CEO of US Joiner commented, “J.F.
Lehman & Company is the ideal partner for US Joiner and
Turnbull. They offer an excellent combination of unique expertise
and relationships as well as capital to accelerate our growth. We
look forward to continuing US Joiner and Turnbull’s proud heritage
of providing unique joiner services and furniture products to the
domestic and international maritime and oil and gas industry.”
 

Debt financing for the transaction was provided by SunTrust
Bank.

Blank Rome LLP provided legal counsel to J.F. Lehman &
Company.  Stifel Nicolaus Weisel, Grossman, Yanak & Ford
LLP, and Feil, Pettit & Williams PLC advised Gatewick
Enterprises, Inc.

About J.F. Lehman & Company

J.F. Lehman & Company is a leading middle-market private
equity firm focused exclusively on the defense, aerospace and
maritime sectors.  The firm has offices in New York and
Washington, D.C.  

For more information about J.F. Lehman & Company, please
visit href="www.jflpartners.com/">www.jflpartners.com
.

Lisa M. Steffens, J.F. Lehman & Company, +1-212-634-1150, lms at jflpartners.com