J.F. Lehman & Company Announces Definitive Agreement to Acquire the Heavy Equipment Group of Oldenburg Group Incorporated

Lake Shore designs, engineers, manufactures and supports complex, heavy equipment systems to meet mission critical requirements in harsh operating environments, including large deck handling equipment, access and lifting systems for U.S. Government vessels and customized underground mining equipment for mine owners and operators around the world.  The Company operates from facilities in Rhinelander, WI, Iron River, MI, Kingsford, MI, and Ontonagon, MI as well as other sales and service sites in the U.S. and Mexico.

Alex Harman, Partner at JFLCO, stated, "We are pleased to have Lake Shore join our expanding portfolio of defense, maritime and aerospace companies.  They are an excellent fit with our investment strategy given their leading market positions, long-standing customer relationships and outstanding workforce.  In today's marine and mining marketplace, the need for specialized, high-quality, safe, and cost-effective solutions is growing, and Lake Shore offers a full-range of products and aftermarket services to meet this demand.  We look forward to working with the management team to grow the business organically and through complementary add-on acquisitions."

The transaction is expected to close later in 2016.

About J.F. Lehman & Company, Inc.

Founded in 1992, J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the defense, aerospace, and maritime sectors. The firm has offices in New York and Washington.

For more information about J.F. Lehman & Company, please visit www.jflpartners.com.