Recapitalization • Marine

Fletch Equity and Gemini Investors Acquire Oceanwide Repair

On January 18, 2023, private equity firms Fletch Equity and Gemini Investors acquired marine company Oceanwide Repair

Acquisition Context
  • This is Fletch Equity’s 1st and Gemini Investors’ 1st transaction in the Marine sector.
  • This is Fletch Equity’s 8th and Gemini Investors’ 116th transaction in the United States.
  • This is Fletch Equity’s 3rd and Gemini Investors’ 16th transaction in California.

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M&A Deal Summary

Date January 18, 2023
Target Oceanwide Repair
Sector Marine
Buyer(s) Fletch Equity
Gemini Investors
Deal Type Recapitalization
Advisor(s) Generational Group (Financial)

Target Company

Oceanwide Repair

Long Beach, California, United States
Oceanwide Repair provides marine ship repair services for a variety of vessels from tugboats and barges to very large oil tankers, bulk carriers, passenger ships, and container ships. Oceanwide Repair is based in Long Beach, California.
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Buyers Overview 2

DESCRIPTION

Fletch Equity is a private equity firm focused on the lower middle-market change of control transactions valued from $15 to $75 million. The Firm has a preference for profitable companies ($2 to $20 million of EBITDA) operating in fragmented industries and will consider opportunities throughout the US. Fletch Equity is headquartered in Los Angeles, California.


Deal Context for Buyer #
Overall 8 of 8
Sector: Marine 1 of 1
Type: Recapitalization 4 of 4
State: California 3 of 3
Country: United States 8 of 8
Year: 2023 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-22 National Research Institute

Los Angeles, California, United States

National Research Institute is a provider of clinical research services. National Research Institute conducts late-phase clinical research trials on behalf of pharmaceutical and biotechnology drug developers in principally metabolic disease states. National Research Institute was founded in 1989 and is based in Los Angeles, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-01 Western Jet Aviation

Van Nuys, California, United States

Western Jet Aviation provides maintenance, repair, and avionics services for business and general aviation aircraft. Western Jet Aviation was founded in 1999 and is based in Van Nuys, California.

Sell -
Buyer

Gemini Investors

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Gemini Investors is a middle-market private equity firm that targets investments in growing and established businesses. Areas of interest include technology, business services, consumer services, healthcare, education, manufacturing and distribution. Gemini looks for companies with $5 to $50 million in annual revenue and typically makes investments of $3 to $8 million in the form of preferred stock and/or subordinated debt. Prospective transaction types include growth capital, recapitalization and buyout situations. Gemini Investors was formed in 1993 and is based in Wellesley, Massachusetts.


Deal Context for Buyer #
Overall 116 of 129
Sector: Marine 1 of 1
Type: Recapitalization 24 of 27
State: California 16 of 16
Country: United States 116 of 129
Year: 2023 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Bear Group

Seattle, Washington, United States

Bear Group is a web development firm specializing in building, integrating, and supporting custom eCommerce platforms and content management systems. The company helps businesses create scalable digital solutions, offering expertise in strategy, design, development, and long-term technical support. Bear Group was founded in 2007 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 Virginia Glass & Mirror

Martinsville, Virginia, United States

Virginia Glass & Mirror is a full-service glass contractor specializing in custom glass, mirrors, storefronts, shower enclosures, and architectural glazing solutions. The company serves residential, commercial, and institutional clients across Virginia, delivering design, fabrication, and installation with a focus on quality craftsmanship and customer service. Virginia Glass & Mirror was founded in 1913 and is based in Martinsville, Virginia.

Buy -