DALLAS & NEW YORK & LONDON & TOKYO, August 18 — Lone Star Funds (“Lone Star”) today announced that an affiliate of Lone Star Fund XI, L.P. has completed the sale of Vigor Marine Group, a provider of maintenance, repair and overhaul services, as well as marine fabrication and services to the naval, defense and commercial maritime sectors in the United States, to Antin Infrastructure Partners.
Based in Portland, Oregon, Vigor Marine Group operates shipyard and fabrication facilities across five locations and employs approximately 2,700 people in the Pacific Northwest, Virginia and California. The company offers advanced services and complete solutions for a variety of clients, including the U.S. Navy, U.S. Army, Military Sealift Command, U.S. Coast Guard, state ferry systems, the cruise industry and the commercial fishing industry.
During its ownership, Lone Star partnered with Vigor Marine Group’s experienced management team to expand its offering and invest in its capabilities, including facility improvements and technology upgrades. The company also integrated its business into a single brand and operating platform, improving its ability to serve customers with mission-critical needs. Today, Vigor Marine Group is one of the leading providers of marine services with a culture of innovation and dedication to its employees and the communities in which it operates.
“Today marks an important milestone for our partnership with Vigor Marine Group as its sale represents a successful outcome for all stakeholders,” said Donald Quintin, Chief Executive Officer of Lone Star. “The transaction also underscores Lone Star’s commitment to investing in and growing market-leading businesses where we see opportunity for value creation. We look forward to seeing the company continue to build on its strong foundation in the years to come.”