Barings Backs J.F. Lehman in Refinancing Trident Maritime Systems
- Transaction showcases Barings' expanded ability to offer solutions across capital stack
- Senior secured facilities support global marine systems specialist acquired by J.F. Lehman in 2011
CHARLOTTE, N.C., Aug. 23, 2018 /PRNewswire/ -- Barings, one of the world's leading financial services firm, announced it served as lead agent on senior secured credit facilities, including a term loan and revolver, to support J.F. Lehman & Company on its recapitalization of Trident Maritime Systems LLC.
Trident Maritime Systems, based in Arlington, Virginia, is America's oldest and largest independent provider of turnkey marine systems. Trident provides integrated solutions (including design, engineering, manufacturing / procurement, integration, installation, and aftermarket support) across four primary business lines: (i) vessel interior systems; (ii) distributed and electro-mechanical systems; (iii) power, propulsion, and control systems; and (iv) cryogenic insulation systems. The global company serves shipbuilders and owners in the cruise, government, offshore oil and gas and commercial ship markets.
"J.F. Lehman & Company welcomes Barings' private finance group in supporting our portfolio company, Trident Maritime Systems," said Alex Harman, partner at J.F. Lehman & Company. "Barings' familiarity with J.F. Lehman based on more than a quarter-century of working together enabled it to provide a competitive financing solution that achieves our goals of refinancing Trident's existing debt while also providing liquidity to shareholders."
"Barings appreciates our longstanding partnership with J.F. Lehman & Company and the opportunity to participate in Trident's recapitalization, which reflects our ability to provide solutions up and down the capital stack and take large hold positions," said Steve Jarvis, managing director at Barings. "We believe Trident's growth potential is compelling, based on its current market position, existing industry tailwinds and the support of a sponsor with J.F. Lehman's expertise and track record of success in the defense and maritime sectors."
About J.F. Lehman & Company
Founded in 1992, J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the defense, aerospace, maritime, government and environmental sectors. The firm has offices in New York and Washington, DC. For more information about J.F. Lehman & Company, please visit www.jflpartners.com.
About Barings
Barings is a $306+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
*As of June 30, 2018
Media Contact:
Kelly Smith, Media Relations, Barings, 980-417-5648, [email protected]
18-575312
SOURCE Barings
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