Hogan Lovells team advises Global Marine Group in sale to J.F. Lehman & Company for US$250 million
Northern Virginia, 3 February 2020 – International law firm Hogan Lovells has advised Global Marine Group (GMG) in its acquisition by J.F. Lehman & Company (JFLCO), a leading middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government, and environmental sectors. Global Marine Group, in which HC2 Holdings, Inc. holds an approximate 73 percent equity interest, is a leading provider of offshore engineering services to the telecommunications, renewables, and oil & gas industries.
Under the agreement, 100 percent of the equity interests in GMG, excluding the previously announced sale of GMG's 49 percent joint venture with Huawei Marine Networks Co., Limited, will be sold to JFLCO for approximately US$250 million in cash, subject to customary closing adjustments. The agreement is expected to close, subject to customary closing conditions, in the first quarter of 2020. More information about the transaction can be found here.
The Hogan Lovells team advising Global Marine Group was led by Northern Virginia Corporate partner Carine Stoick with assistance from senior Corporate associate Ashlee Sawyer Gilson. London partner Karen Hughes and Washington, D.C., partner Christine Lane advised on tax. London partner Faye Jarvis and Washington, D.C., partner Carin Carithers advised on pensions, executive compensation, and employee benefits. Washington, D.C., Partner Aleksandar Dukic advised on regulatory matters.