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May 24, 2019
Kelso & Company Acquires Majority Interest in J.S. Held
Kelso & Company Acquires Majority Interest in J.S. Held

The partnership between Kelso and J.S. Held will enable the company to maintain its accelerated growth by deepening its bench of expertise and expanding global operations.


Jericho, NY – May 20, 2019 – Global consulting firm J.S. Held announced today that the private equity firm Kelso & Company has agreed to acquire a majority interest in the company. The partnership between Kelso and J.S. Held will enable the company to maintain its accelerated growth by deepening its bench of expertise and expanding global operations. Lovell Minnick Partners, the current majority owner of J.S. Held, will be exiting its investment as part of the transaction. Financial terms of the private transaction were not disclosed.

“Our mission for the last 40 years has been to provide the best service to our clients and to support the continued professional growth of our people,” said Jonathon Held, Chief Executive Officer of J.S. Held. “We are committed to connecting our clients with subject matter experts so they can solve the strategic and tactical business challenges they face every day. Lovell Minnick has played an instrumental role in helping us think strategically about our growth opportunities, and we look forward to our partnership with Kelso which will allow us to continue to add resources to our team, expand solutions to new verticals, and continue our growth on a global scale.”

By joining forces with J.S. Held, Kelso gains access to additional resources and experts to provide clients with an expanded suite of technical and scientific, financial, and strategic consulting services.

“We are thrilled to partner with Jon and his team. J.S. Held’s leadership position in the insurance industry is a testament to the world-class expertise and unparalleled client service demonstrated by the consulting team,” said Chris Collins, Managing Director of Kelso. “We look forward to supporting the J.S. Held team as they accelerate their strategic plan to offer best-in-class solutions to an expanded client base spanning new vertical and global markets,” added Steve Dutton, Managing Director of Kelso.

“It has been our pleasure to partner with Jon Held and his team over the past four years as the Company significantly expanded its practice areas, geographic coverage, and consultant base,” said Robert Belke, a Managing Partner at Lovell Minnick Partners. “With a robust and growing platform, and a strong track record of acquisitions, J.S. Held is now the acquirer of choice in the industry and has done a remarkable job institutionalizing an integration process that is proven and repeatable,” added Jason Barg, a Partner at Lovell Minnick Partners.

The transaction is expected to close in the third quarter of 2019 and is subject to customary closing conditions. William Blair & Company and Morgan, Lewis & Bockius LLP advised Lovell Minnick and J.S. Held in connection with the transaction. Debevoise & Plimpton LLP advised Kelso in connection with the transaction.

About J.S. Held

J.S. Held is a global consulting firm that combines technical, scientific, financial, and strategic expertise to advise clients seeking to realize value and mitigate risk. Our professionals serve as trusted advisors to organizations facing high stakes matters demanding urgent attention, staunch integrity, proven experience, clear-cut analysis, and an understanding of both tangible and intangible assets.

The firm provides a comprehensive suite of services, products, and data that enable clients to navigate complex, contentious, and often catastrophic situations.

J.S. Held, its affiliates and subsidiaries are not certified public accounting firm(s) and do not provide audit, attest, or any other public accounting services. J.S. Held is not a law firm and does not provide legal advice. Securities offered through PM Securities, LLC, d/b/a Phoenix IB, a part of J.S. Held, member FINRA/ SIPC or Ocean Tomo Investment Group, LLC, a part of J.S. Held, member FINRA/ SIPC. All rights reserved.

About Kelso & Company

Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $14 billion of equity capital in over 125 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (“ESOP”) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporations. Kelso has significant experience investing in financial services, having deployed over $2 billion of equity capital in the sector over the past decade. For more information, please visit

About Lovell Minnick Partners

Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised over $3 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, financial product distribution, insurance, banks, specialty finance, and related technology and business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage.

Media Contacts:

J.S. Held LLC

Monica Christopher, Chief Marketing Officer

[email protected]

(917) 837-8895

Kelso & Co.

Lynn Alexander

Managing Director, Investor Relations

[email protected]

(212) 350-7700

Lovell Minnick Partners

Charlyn Lusk


[email protected]

(646) 502-3549

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