J.F. Lehman & Co. (JFLCO) acquired a majority stake in Denmark-based Wrist Supply Services, a global leader in marine supply and logistics.

The private equity firm will partner with Wrist’s existing sponsor, Altor Equity Partners, and the company’s management team, both of whom will retain significant shareholdings.

Headquartered in Aalborg, Denmark, Wrist operates a global network serving more than 750 ports. With a workforce of 2,275 employees across over 35 locations, the company specializes in sourcing, storing, and delivering provisions, stores, and spare parts to vessels worldwide.

JFLCO partner Alex Harman, who joins Wrist’s board, highlighted the company’s strong reputation for streamlining the maritime supply chain through integrated services and digital innovations. He expressed enthusiasm about supporting Wrist’s continued expansion.

Will Hanenberg, managing director at JFLCO and Wrist’s new chairman, emphasized the strategic fit between the investment firm and Wrist, citing the company’s relationships with blue-chip customers, advanced logistics capabilities, and digital transformation initiatives.

Jens Holger Nielsen, CEO of Wrist, welcomed JFLCO’s investment, noting that the firm’s expertise and resources would accelerate growth while maintaining the company’s legacy of delivering high-quality, innovative services.

The acquisition was financed through a Nordic bond offering coordinated by ABG Sundal Collier, with Danske Bank serving as joint bookrunner. Additionally, Danske Bank provided a revolving credit facility to support the transaction. Find out more about investment and financing efforts in the Nordic area by joining the Nordics’ Private Equity Conference in Stockholm. 

Advisors on the deal included ABG Sundal Collier as financial advisor to JFLCO, with legal counsel from Jones Day and Gorrissen Federspiel. Thommessen advised on the bond offering, while Bank of America served as financial advisor to Wrist, with Kromann Reumert providing legal counsel for the company and its majority equity holders.

This acquisition marks a significant step in JFLCO’s strategy to expand its presence in the maritime and logistics sectors, reinforcing Wrist’s position as a market leader.