Investment Focus & Thesis

J.F. Lehman & Company targets companies with enterprise values typically between $100 million and $1 billion. The firm seeks businesses with strong positions in defense and government markets: Investment Range Equity investments of $50M-$200M in companies with enterprise values typically ranging from $100M-$1B. Stage Focus Control and significant minority investments in established middle-market companies. Defense Technology — Companies developing advanced technologies for defense applications, including sensors, communications, and cybersecurity Government Services — Companies providing professional services to federal, state, and local government agencies Aerospace — Companies supplying aerospace components, systems, and services to defense and commercial customers Homeland Security — Companies providing products and services for border security, emergency response, and critical infrastructure protection

Recent Investment Activity

J.F. Lehman & Company has maintained consistent investment activity in the defense and government services space. The firm's deep sector expertise and government relationships make it an attractive partner for companies in this market. Company Sector Investment Theme Year Defense Technology Company Defense Technology Control Buyout 2024 Government Services Platform Government Services Growth Equity 2024 Aerospace Components Manufacturer Aerospace Control Buyout 2023 Homeland Security Company Homeland Security Growth Equity 2023 J.F. Lehman's value creation approach leverages deep industry expertise and extensive government relationships to help portfolio companies win new business and navigate the complex defense and government contracting landscape.

Notable Portfolio Companies

J.F. Lehman & Company has built a portfolio of market-leading companies in the defense and government services space, demonstrating their ability to identify and nurture businesses with strong positions in national security markets: Defense Technology Leaders Companies developing advanced technologies for defense applications, including next-generation sensors, communications systems, and cybersecurity solutions. Government Services Providers Companies providing professional services to federal, state, and local government agencies, including IT services, management consulting, and specialized professional services. Aerospace & Defense Suppliers Companies supplying critical aerospace components and systems to defense and commercial customers, often with long-term contracts and strong customer relationships. J.F. Lehman's value creation strategy includes providing strategic guidance on business development, leveraging government relationships, and supporting acquisitions that expand capabilities and market reach.

What J.F. Lehman & Company Looks For

J.F. Lehman & Company evaluates opportunities based on several key criteria that indicate a company's potential for success in defense and government markets: Defense market position — Companies with strong positions in defense and government markets, including cleared facilities and established customer relationships Technology differentiation — Businesses with proprietary technology or capabilities that address critical defense needs Contract visibility — Companies with long-term contracts and predictable revenue streams from government customers Clearance capabilities — Businesses with facility security clearances and the ability to work on classified programs Growth potential — Companies operating in growing defense market segments with clear opportunities for expansion }> Pro Tip J.F. Lehman has deep expertise in defense and government markets. Be prepared to discuss your contract portfolio, clearance status, and how you position yourself for future defense spending priorities.

How to Connect With J.F. Lehman & Company

Approaching J.F. Lehman requires demonstrating your company's position in defense and government markets: 1 Demonstrate Market Position Quantify your defense market position through contract portfolio analysis, customer concentration, and competitive positioning. Show evidence of past performance and customer satisfaction. 2 Prepare Financial Infrastructure Ensure clean financials with EBITDA of $15M+. Be prepared for thorough due diligence, including DCAA compliance review if applicable. 3 Articulate Growth Vision Develop a clear thesis for how J.F. Lehman's partnership can accelerate growth. Identify specific programs, contracts, or market expansions that could drive value. 4 Build Relationships Leverage industry associations, defense consultants, and mutual connections to get introduced. J.F. Lehman values relationships with management teams they know and trust.

The Value of Professional Financial Infrastructure

Companies seeking PE investment from defense-focused firms like J.F. Lehman & Company must demonstrate robust financial infrastructure and compliance: Financial Preparation • Clean financial statements • DCAA compliance (if applicable) • Revenue recognition compliance • Due diligence data room • Contract accounting Contract Metrics • Contract portfolio analysis • Backlog and pipeline • Customer concentration • Contract terms analysis • Win rate metrics }> How Eagle Rock Helps We help defense and government services companies prepare for PE investment by building professional financial infrastructure. Our fractional CFO services ensure you're ready for due diligence with clean financials, robust contract accounting, and strategic insights that make your business attractive to investors like J.F. Lehman & Company.

Frequently Asked Questions