J.F. Lehman Agrees To Buy Drew Marine

J.F. Lehman & Co. announced that it has agreed to buy marine services business Drew Marine from Ashland Inc. (NYSE: ASH). The deal is valued at approximately $120 million, and is expected to close within 90 days. And earlier LBO Wire report said that the transaction would include more than $70 million in debt financing, with CIT and BNP Paribas arranging senior debt, and Babson Capital arranging around $20 million in mezzanine notes.

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