We are pleased to announce that J. F. Lehman & Company, one of Balentine’s private capital partners, recently acquired NorthStar Group in Fund V. Our private capital clients invested in Fund V during 2020-2021 and are well-positioned to benefit from this acquisition.
About J.F. Lehman & Company
J.F. Lehman & Company, LLC is a middle-market private equity investment firm that conducts buyouts, acquisitions, corporate divestitures, and equity investments. Across decades of operating in the environmental services, industrial, aerospace, and defense sectors, J.F. Lehman & Company has employed a well-known discipline of paying fair prices for good businesses. We find that investing in steady growth companies with single digit enterprise multiples can provide good value for our clients by protecting capital while providing for growth, which is one of the reasons we have partnered with them for many years.
NorthStar Group is a unique company and a global leader in infrastructure and environmental solutions. For over twenty years it has been one of the top ten global wrecking and demolition companies as ranked by Engineering News-Record. With nearly $700 million in average annual revenue, NorthStar Group is relied upon for complicated operations ranging from the demolition of J.P. Morgan’s 70-story headquarters at 270 Park Avenue to the decommissioning of the Crystal City Nuclear plant. Key clients for the company include NASA and The National Park Service.
This recently announced acquisition of NorthStar Group in Fund V positions J.F. Lehman & Company, and by extension our investors, to benefit from a potential wave of infrastructure spending that will require the highly unique and technical skills of NorthStar Group. Read more in the press release here.
Our Private Capital Program
At Balentine, we help our clients reach their financial objectives with a proper balance of risk and return. Protection of capital is paramount, which makes the price investors pay for assets important, especially as multiples of earnings paid for private companies continue to expand at a dizzying pace. In the next market cycle, we believe active asset management will be crucial to navigating the challenging environment created by high equity valuations and low interest rates successfully. For more considerations around investing in private capital and how to select a private capital manager, we invite you to download our newly released Capital Markets Forecast, which provides our outlook for the next seven years and beyond.