J.F. Lehman & Co. acquires Atomic Transport LLC

New York-based private equity firm J.F. Lehman & Co. (JFLCO) has acquired Atomic Transport LLC, a Chattanooga, Tennessee-based specialized waste services company.

Established in 2015, Atomic provides bulk-material transport and transfer station management services, operating in 19 states across 30 terminals.

“We are excited to partner with this exceptionally talented and experienced Atomic team,” says Glenn Shor, partner at JFLCO. “The company's commitment to excellence in customer service, safety and innovation are foundations for success in these markets, and we look forward to supporting execution of the many growth initiatives ahead.”

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“Atomic represents a compelling fit with our well-established investment criteria given the critical nature of their services paired with established market leading capabilities,” JFLCO Managing Director Dave Thomas says. “We are confident the service-and-growth-oriented culture at Atomic will fit well within the JFLCO portfolio.”

JFLCO is partnering with Atomic’s former majority shareholders, including founders and management, who will remain shareholders in the business and continue to lead Atomic.

“JFLCO’s deep industry experience and focus makes them an excellent partner in the next phase of Atomic's growth plan,” Atomic Co-founder and CEO Shayne McCallie says. “Our success to date has been made possible by the dedication of the entire team at Atomic, and we look forward to working with JFLCO to build upon our strong foundation of delivering best-in-class services to our customers across the country.”

Financing for the transaction was arranged by Netrex Capital Markets and provided by a lender group led by Deutsche Bank Private Credit & Infrastructure.

A&O Shearman provided legal counsel to JFLCO. Houlihan Lokey served as financial advisor to Atomic, and Scudder Law Firm provided legal counsel to Atomic and its majority equity holders.