Buyout (LBO, MBO, MBI) • Marine

Chatham Capital Partners and Fortress Acquire Global Ship Systems

On June 1, 2004, mezzanine finance firm Chatham Capital Partners and asset manager Fortress acquired marine company Global Ship Systems

Acquisition Context
  • This is Chatham Capital Partners’ 1st and Fortress’ 1st transaction in the Marine sector.
  • This is Chatham Capital Partners’ 3rd and Fortress’ 7th transaction in the United States.
  • This is Chatham Capital Partners’ 2nd and Fortress’ 1st transaction in Georgia.
Investment Fate
  • Global Ship Systems went bankrupt in 2007.

Explore All 154 Buyout (LBO, MBO, MBI) Marine Deals - Search the Database Free


M&A Deal Summary

Date June 1, 2004
Target Global Ship Systems
Sector Marine
Buyer(s) Chatham Capital Partners
Fortress
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Global Ship Systems

Savannah, Georgia, United States
Global Ship Systems is a provider of prime and sub-contract repair and refit services to marine operators and shipbuilders.
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Buyers Overview 2

Buyer

Chatham Capital Partners

Atlanta, Georgia, United States

Investor Investor


Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Chatham Capital Partners is a mezzanine finance firm that provides capital to lower middle-market companies. Chatham looks for investments in healthcare, manufacturing, and service companies with revenues of $10 to $50 million. Chatham will consider opportunities across the US with a preference for companies located in the Eastern and South regions of the US. Chatham will not consider early-stage, venture capital or real estate investments. Chatham was formed in 2001 and is based in Atlanta, Georgia.


Deal Context for Buyer #
Overall 3 of 16
Sector: Marine 1 of 1
Type: Buyout (LBO, MBO, MBI) 2 of 6
State: Georgia 2 of 3
Country: United States 3 of 16
Year: 2004 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 PGA TOUR Superstore

Roswell, Georgia, United States

PGA TOUR Superstore is a retailer golf and tennis equipment and products for golf and tennis players.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-02-01 S&B Surgery Centers

Beverly Hills, California, United States

Salus Surgical Group is focused exclusively on developing premium physician owned outpatient surgery facilities and boutique hospitals. The company develops state-of-the-art facilities with the best equipment, nursing, staffing and anesthesia.

Buy -
Buyer

Fortress

New York, New York, United States

Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.


Deal Context for Buyer #
Overall 9 of 49
Sector: Marine 1 of 1
Type: Buyout (LBO, MBO, MBI) 4 of 13
State: Georgia 1 of 2
Country: United States 7 of 36
Year: 2004 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Drive Shack

Dallas, Texas, United States

Drive Shack is a real estate investment trust that focuses on investing in and actively managing, golf related real estate assets. Drive Shack was founded in 2002 and is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 GAGFAH S.A.

Grand Duchy of Luxembourg, Luxembourg

GAGFAH is a realty company with core business is the ownership and management of a geographically diversified apartment portfolio acquired from the German Government and other long term owners.

Buy $8.6B