J.F. Lehman Completes Drew Marine Purchase

J.F. Lehman & Co. has completed its acquisition of marine services business Drew Marine from Ashland Inc. (NYSE: ASH). The deal was valued at approximately $120 million. An 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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