US-based private equity firm JF Lehman and Company (JFLCO), through one of its investment affiliates, has entered into a definitive agreement to acquire Global Marine Group (GMG), a subsea cable maintenance and installation service provider headquartered in the UK.
The acquisition will also cover GMG's existing fleet of vessels which consists of three cable installation and repair vessels, four cable maintenance vessels, and 19 crewboats.
The agreement, which is subject to customary closing conditions, is expected to close in the first quarter of 2020.