M&A Deal Summary

Stellex Capital Management Acquires MHI Ship Repair & Services

On November 2, 2015, private equity firm Stellex Capital Management acquired marine company MHI Ship Repair & Services

Acquisition Highlights
  • This is Stellex Capital Management’s 1st transaction in the Marine sector.
  • This is Stellex Capital Management’s 2nd transaction in the United States.
  • This is Stellex Capital Management’s 1st transaction in Virginia.
Investment Fate
  • MHI Ship Repair & Services merged with another company in 2019.

M&A Deal Summary
Date 2015-11-02
Target MHI Ship Repair & Services
Sector Marine
Buyer(s) Stellex Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

MHI Ship Repair & Services

Norfolk, Virginia, United States
website
MHI Ship Repair & Services is a marine repair and conversion contractor serving Commercial ship owners, the U.S. Navy, Military Sealift Command and Maritime Administration, and operators worldwide. MHI Ship Repair & Services was established in 1952 and is based in Norfolk, Virginia.

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Buyer(S) 1

Buyer

Stellex Capital Management

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2014
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Stellex Capital Management is a private equity firm focused on acquiring middle-market companies throughout North America and Europe. Stellex looks to invest $25 to $150 million in transactions valued up to $500 million. Sectors of interest include manufacturing, industrial, business services, aerospace, defense, government services, automotive, consumer products, distribution, and transportation. Prospective transaction situations include buyouts, turnarounds, recapitalizations, corporate divestitures, consolidations, and secondary purchases. Stellex Capital Management was formed in 2014 and is based in New York City.

DEAL STATS #
Overall 3 of 23
Sector (Marine) 1 of 3
Type (Buyout (LBO, MBO, MBI)) 2 of 3
State (Virginia) 1 of 1
Country (United States) 2 of 18
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-27 AFGlobal

Houston, Texas, United States

AFGlobal is an oil and gas OEM specializing in technology, products, and services with fully-integrated manufacturing capabilities to clients around the world. AFGlobal also offers a broad range of manufacturing capabilities to industrial segments, offering a variety of both highly-engineered and general forged products, as well as complementary aftermarket services. AFGlobal was founded in 1985 and is based in Houston, Texas.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-21 Morbark

Winn, Michigan, United States

Morbark LLC is a manufacturer of equipment and aftermarket parts for forestry, tree maintenance, biomass, land management, and recycling markets. Morbark offers a full line of flails, disc and drum tree chippers, brush chippers, horizontal and tub grinders, stump grinders and more. Morbark equipment helps customers harvest, process and convert organic materials into valuable, usable and environmentally sound products. Morbark LLC was founded in 1957 and is based in Winn, Michigan.

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