The firm focuses on companies that have some or all of the following characteristics:
•  Market/niche leadership
•  Unique technical competencies
•  Sole/dual source supply arrangements
•  Regulatory and certification requirements
•  Commercially applicable technologies
•  Long-term, international customer bases
•  Balance across program lifecycle stages
•  Aftermarket concentration
•  Long-term contracts
•  Backlog driven
•  Understandable cash flow
•  Underutilized assets
•  Potential for business development help

J.F. Lehman & Company pursues an exclusive and consistent focus on investing in companies in the defense, aerospace and maritime industries and the technologies that originate from them. J.F. Lehman's unique relationships and specialized knowledge enable the firm to effectively address these markets. The firm focuses on the U.S. and U.K. defense markets which are joined by close strategic and cultural alliances and are well known to the principals. These sizeable markets are further augmented by J.F. Lehman's ability to address companies whose defense-based technologies have attractive commercial applications.

Within its target industries, the firm focuses exclusively on making control investments in lower middle market companies with unique engineering competencies and technology-driven products and services whose performance is critical. Companies that J.F. Lehman targets may not be realizing their full potential. These businesses often have well-established product offerings and are leaders in certain or all their markets but lack the human or capital resources required for further growth. The firm fully supports each investment with substantial internal and external resources and independently evaluates each company from origination through exit to identify opportunities for creating value in concert with our management partners. J.F. Lehman views capable, committed management as a company's most valuable asset. Accordingly, we firmly regard management as our partners in each transaction.

J.F. Lehman utilizes a strict process to ensure that every investment leverages the experience and knowledge of the principals and meets the firm's rigorous criteria and strategic focus. This disciplined investment process has four basic stages: origination, acquisition, ownership and realization. Application of the firm's specialized skills and expertise at each stage of the investment process enables the firm to identify attractive business attributes, develop specifically tailored strategies to create value and successfully execute these strategies.

The firm has consistently employed this clearly defined investment philosophy since inception. Consequently, in evaluating and making investments, the firm responds quickly to minimize disruption to operations and eliminate employee uncertainty.