This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Drew Marine Completes The Acquisition Of Alexander/Ryan Marine & Safety And Sea Technology

NEW YORK, Feb. 4, 2013 /PRNewswire/ -- Drew Marine announced today the completion of the acquisition of Alexander/ Ryan Marine & Safety and Sea Technology (collectively " Alexander/Ryan").

(Logo: )

Alexander/Ryan is a leading manufacturer, distributor and safety certification provider for the Offshore and Marine industries.  The company is headquartered in Houston, Texas with operations in New Orleans and New Iberia, Louisiana.  The company is a distributor of some of the best known equipment manufacturers as well as a certified service facility for a variety of rescue and survival craft.  Alexander/Ryan also provides technical services, inspections and field certification for a wide range of systems found in Offshore and Marine applications.

Drew Marine is a global leading provider of technical solutions and services to the marine industry specializing in Fire Safety and Rescue ("FSR"), Water Treatment, Cleaning & Coatings, Fuel Management, Welding & Refrigeration and Sealing Products.

Len Gelosa, President and CEO of Drew Marine, said: " Alexander/ Ryan Marine and Safety is a perfect fit with Drew Marine's strategy to grow in the Offshore industry and expand our product offerings in maritime safety.  We are pleased to welcome the Alexander/Ryan team of professionals to Drew Marine."

John Ryan, President of Alexander/ Ryan Marine & Safety, said: "We are excited about combining Alexander/Ryan with Drew Marine.  The Drew Marine reputation for quality, technology and services coincides with Alexander/Ryan's mission and history of providing our customers with superior products and services.  On behalf of the entire Alexander/ Ryan Marine & Safety team, we look forward to working together with Drew Marine to continue to grow our business."

Drew Marine was acquired in August 2009 by investment affiliates of J.F. Lehman & Company, a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors.  "Drew Marine continues to make significant strides in expanding its FSR suite of capabilities," said Louis Mintz, Partner.  " Alexander/Ryan exhibits many of the attributes J.F. Lehman & Company seeks in acquisition candidates – a leading market position, blue-chip customer base and a strong reputation for quality and performance.  This is yet another milestone for Drew Marine as it continues to pursue new opportunities for growth."

Senior debt financing for the acquisition was arranged by BNP Paribas Securities Corp. (as sole lead arranger).  Jones Day LLP provided legal counsel to Drew Marine.  

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs