Wrist Group Cements U.S. East Coast Dominance with Acquisition

AALBORG, Denmark – December 19, 2025 – In a significant move solidifying its position in the global maritime supply industry, Wrist Group has announced the acquisition of Delaware Ship Supply, a venerable U.S. East Coast supplier with over a century of history. The deal, backed by Wrist's investment affiliate J.F. Lehman & Company, marks a major expansion of Wrist's operational footprint into one of North America's most critical shipping corridors.

Delaware Ship Supply (DSS), headquartered in Camden, New Jersey, has been a fixture in the region since 1904, providing a comprehensive portfolio of provisions, stores, and technical products to ports across New York, Pennsylvania, New Jersey, Delaware, and Maryland. The acquisition integrates this deep-rooted local expertise into Wrist's expansive global network, which already spans 35 locations and serves over 750 ports worldwide.

Jens Holger Nielsen, Group Chief Executive Officer at Wrist, celebrated the integration of the historic American firm. "We're excited to welcome Don Rush and his colleagues in Delaware Ship Supply," he commented. "With more than 100 years of experience, Delaware Ship Supply has built a strong reputation serving American and international customers with marine supplies across the major ports of New York, Pennsylvania, New Jersey, Delaware and Maryland. I am confident that our customers will benefit from the combined capabilities and synergies of Wrist and Delaware Ship Supply."

For Delaware Ship Supply, the move represents a leap into the digital age and global market. Don Rush, Chief Executive Officer of DSS, highlighted the strategic advantages, stating, "As part of Wrist, Delaware Ship Supply gains significant opportunities beyond traditional ship supply. We will be able to expand our customer offerings overseas through the global Wrist network and enhance our customer value proposition through Wrist's advanced digital customer platforms."

A Strategic Anchor on the U.S. East Coast

This acquisition is far more than a simple line-item expansion; it's a calculated move to anchor Wrist Group's presence in the bustling U.S. East Coast maritime market. The region, home to major container ports like New York/New Jersey, Savannah, and Baltimore, is a vital artery for global trade. By integrating Delaware Ship Supply, Wrist gains immediate, on-the-ground access to an established customer base and a logistical framework honed over decades.

The deal reflects a wider trend of consolidation within the highly fragmented marine supply sector. With a global market share estimated between 9% and 12%, Wrist is already the world's leading ship chandler. This acquisition strengthens its leadership position and enhances its competitive moat against both global and regional rivals. The combination of Wrist’s global purchasing power and DSS's local operational efficiency is expected to create significant value.

"The acquisition further strengthens Wrist's commercial and operational presence along the U.S. East Coast corridor and represents a highly strategic addition to the business," said Will Hanenberg, Chairman of Wrist and a Managing Director at J.F. Lehman & Company. He emphasized that the combination "positions the company to deliver faster, more efficient service and greater value to customers across the region." This promise of enhanced efficiency is crucial in an industry where vessel turnaround times and supply chain reliability are paramount.

Bridging a Century of Service with Digital Innovation

The union of Delaware Ship Supply and Wrist Group creates a fascinating juxtaposition of legacy and modernity. DSS, a company that evolved from a local butcher shop in 1904 to a trusted marine supplier, brings a wealth of institutional knowledge. Its stable workforce, with many employees boasting over 20 years of industry experience, represents an invaluable asset of deep-seated expertise and customer relationships. The company operates from a 27,500-square-foot warehouse in Camden, stocking thousands of items for 24/7 delivery—a testament to its traditional, service-oriented model.

This legacy will now be integrated with Wrist Group's pioneering digital infrastructure. Wrist has been at the forefront of transforming the historically analogue marine procurement process. Its initiatives include the Source2Sea digital marketplace, designed to reduce friction and inefficiency, and a suite of online platforms that provide customers with 24/7 global sourcing, data transparency, and automated logistics.

For DSS and its customers, this means a significant technological upgrade. The ability to tap into Wrist’s digital tools promises to streamline ordering, improve inventory tracking, and provide greater visibility into the global supply chain. CEO Don Rush noted this modernization as a key benefit, emphasizing that partnering with Wrist will allow his company "to serve our customers more effectively." The challenge and opportunity will lie in successfully merging DSS's time-honored operational culture with Wrist's high-tech, data-driven global systems, ensuring that the personal touch of a century-old supplier is enhanced, not lost, in the digital transition.

The J.F. Lehman & Company Playbook in Action

Behind this strategic acquisition is the guiding hand of J.F. Lehman & Company (JFLCO), a private equity firm with a sharp focus on the maritime, defense, and aerospace sectors. The buyout of Delaware Ship Supply is a classic example of JFLCO's investment playbook: identify a market-leading portfolio company and fuel its growth through targeted, strategic acquisitions that bolster its geographic reach and operational capabilities.

JFLCO's strategy often involves consolidating fragmented markets to create more powerful, efficient, and valuable enterprises. The firm's support for Wrist's expansion is not a new development. In February 2022, Wrist acquired Centralam Panama, securing a critical foothold at one of the world's most important maritime chokepoints, the Panama Canal. This latest move on the U.S. East Coast follows the same logic, methodically building out Wrist’s network in key global trade hubs.

By investing in companies that provide essential services to government and commercial maritime clients, JFLCO builds a resilient portfolio insulated from the volatility of other sectors. The firm’s role is not merely financial; as indicated by Chairman Will Hanenberg's comments, JFLCO takes an active part in shaping the strategic direction of its companies. This acquisition reinforces Wrist's role as a cornerstone of JFLCO's maritime investment strategy, leveraging private equity capital to drive consolidation and technological advancement in a vital global industry.

The integration of Delaware Ship Supply is expected to enhance Wrist’s overall value proposition, preparing it for continued growth and solidifying its leadership for the long term. For the ports of the Eastern Seaboard, the arrival of a globally integrated and digitally empowered supplier signals a new era of efficiency and connectivity in marine logistics. This handshake across the Atlantic, between a Danish global leader and an American centenarian, is set to reshape the competitive landscape of marine supply for years to come.