SEACOR sells National Response Corporation to J.F. Lehman

SEACOR Holdings Inc. (NYSE: CKH) reports that it has agreed to sell part of its environmental business to  private equity firm J.F. Lehman & Company. The businesses to be sold include National Response Corporation (NRC), one of the largest providers of oil spill response services in the United States; NRC Environmental Services Inc., a leading provider of environmental and industrial services on the West Coast; and SEACOR Response Inc., which provides oil spill and emergency response services to in various international markets.

The transaction, which is expected to close by the end of February 2012, does not include O'Brien's Response Management Inc., a provider of crisis and emergency preparedness and response management services, which will continue to be a subsidiary of SEACOR post-closing.

Houlihan Lokey is serving as exclusive financial advisor to SEACOR in connection with this transaction.

J.F. Lehman & Company commented that NRC is recognized as a leading provider of United States Oil Pollution Act of 1990 regulatory compliance and emergency response services, one of the leading environmental contracting firms on the U.S. West Coast, and a global provider of diversified environmental, industrial, and emergency response solutions. Headquartered in Great River, N.Y. with regional offices throughout the U.S. and internationally, NRC has approximately 540 employees.

"We are very pleased that NRC will be joining the J.F. Lehman & Company portfolio," said Alex Harman, Partner. "NRC has many of the characteristics we seek in acquisition candidates – a leading market position, a loyal and diversified global customer base, and a strong track record of performance. We plan to pursue new opportunities for growth to leverage the long-established NRC brand and the company's unique regulatory compliance and emergency response capabilities."

Steve Candito, who will be CEO of the independent company after closing, commented: "This transaction will provide the best of both worlds for NRC's clients and employees. We are excited to integrate all of our businesses in the U.S. and internationally under the well-recognized NRC brand and be partnering with JFLCO. JFLCO's successful history of investing in the maritime market, strong financial standing, and desire to accelerate NRC's growth is expected to result in expanded geographic coverage, new services, and additional resources for NRC's clients. We look forward to maintaining our relationship with SEACOR, including priority access to its fleet of vessels and helicopters. NRC's customers can expect the same quality service they have received for the past 20 years."

February 9, 2012