Altor divests Wrist to J.F. Lehman & Company

Published

Mar 11 2025

11 March 2025 – Altor Fund II (“Altor”) has completed the divestment of W.S.S. Holding A/S and its subsidiaries (“Wrist”), a global leader in marine supply, logistics and budget management services for the maritime industry, to investment affiliates of J.F. Lehman & Company (“JFLCO”), a leading private equity firm specializing in the aerospace, defence, government, maritime, environmental and infrastructure sectors.


Wrist is the global leader in provisions, stores, spare parts logistics, budget management and integrated marine supply services to vessels worldwide through its extensive global supply network. With roots dating back to 1953, Wrist employs 2,275 people and operates across more than 35 locations serving more than 750 ports globally.


Since Altor and Wrist joined forces, the company has grown fivefold through a combination of organic growth and a total of 19 acquisitions. Today, the company is a clear industry leader and more than twice the size of the nearest competitor. Wrist has continued to lead the development and digitalization of the marine supply industry, transitioning from transactional customer relationships to being the preferred logistics partner of choice.


“We are incredibly impressed by what the team at WSS has achieved during our partnership. Throughout our long partnership they have led the way in their industry by placing innovation and customers first, not least by investing in digitalization to raise the bar on seamless solutions and future proofing their business”, said Søren Johansen, Partner at Altor and Chairman of Wrist.


“We are thrilled to join forces with JFLCO, whose vision and track record in the maritime industry make them an ideal partner for our next stage of growth” says Jens Holger Nielsen, Group CEO Wrist. “We are grateful for the support and guidance of Altor over the past 17 years, and we are very pleased that the Altor partnership has reinvested in the business alongside JFLCO”, he continued.


 


About Altor

Since inception, the family of Altor funds has raised more than EUR 12 billion in total commitments and the funds have invested in 100 companies. The investments have been made in medium-sized predominantly Nordic and DACH companies with the aim to create value through growth initiatives and operational improvements. Among current and past investments are Eleda, Carnegie, Kaefer, OX2 and Nordic Climate Group.

About Wrist

Wrist is the world’s leading ship and offshore supplier within provisions, stores, spare parts logistics, budget management and integrated marine supply services, operating across 35 locations worldwide covering 750+ port locations with a market share of about 12%. The company is a pioneer in the digital transformation of the maritime supply industry streamlining the marine supply chain and procurement for customers. Committed to sustainability, Wrist continuously works to reduce its own climate impact while proactively addressing the market’s growing need for responsible solutions and services.

About J.F. Lehman & Company

Founded in 1992, J.F. Lehman & Company focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. The firm has offices in New York and Washington, D.C. To learn more, please visit www.jflpartners.com

Press contact

Karin Åström

Head of Communications

karin.astrom@altor.com

+46 707 64 86 59

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