Norwegian oil and gas company J.F. Lehman & Company sold Global Marine Group to Keppel Infrastructure Fund, marking a strategic exit for the private equity firm. The financial terms remain undisclosed. 

Headquartered in the UK, GMG plays a crucial role in maintaining global communications by providing subsea telecom maintenance and installation services. Established in 1850, the company serves a broad international client base, ensuring the integrity of undersea networks.

JFLCO acquired GMG in 2020 and quickly refocused the business on its core telecom market. The firm streamlined operations, expanded service offerings, and strengthened relationships with key global clients. These efforts solidified GMG’s position as the leading independent provider in the subsea telecom sector.

Alex Harman, Partner at JFLCO and Chairman of GMG’s Board of Directors, emphasised the firm’s impact: “Our partnership with management has transformed Global Marine Group into a focused, growing enterprise that plays an essential role in global telecom infrastructure.”

Bruce Neilson-Watts, GMG’s CEO, highlighted the company’s growth and future potential. “This transaction underscores our operational expertise and dedicated team. JFLCO’s support allowed us to sharpen our focus on the rapidly expanding telecoms market. We’re excited to build on our success with our new partners at KIF.”

JFLCO’s exit comes amid rising demand for resilient undersea communications networks. Will Hanenberg, Managing Director at JFLCO, reinforced GMG’s strong market position. “As global demand for reliable undersea infrastructure surges, GMG is uniquely positioned to ensure the stability of these critical connections. KIF is the right partner to drive the next phase of growth.”

Evercore acted as JFLCO’s exclusive financial advisor, while Jones Day and Blank Rome provided legal counsel.