M&A Deal Summary

Hanwha Systems Acquires Philly Shipyard

On June 20, 2024, Hanwha Systems acquired marine company Philly Shipyard

Acquisition Highlights
  • This is Hanwha Systems’ 1st transaction in the Marine sector.
  • This is Hanwha Systems’ 2nd transaction in the United States.
  • This is Hanwha Systems’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2024-06-20
Target Philly Shipyard
Sector Marine
Buyer(s) Hanwha Systems
Deal Type Add-on Acquisition

Target

Philly Shipyard

Philadelphia, Pennsylvania, United States
Philly Shipyard is a U.S. shipyard constructing vessels for operation in the U.S. Jones Act market, which requires all commercial vessels transporting merchandise between ports in the United States to be built, owned, operated and manned by U.S. citizens. Philly Shipyard is based in Philadelphia, Pennsylvania.

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Buyer(S) 1

Buyer

Hanwha Systems

Seoul, South Korea
Category Company
Founded 1977
Sector Aerospace
Revenue 2.45T KRW (2023)
DESCRIPTION

Hanwha Systems is a provider of defense products and technologies in South Korea. The company offers land systems, strategic communication, reconnaissance, the surface to air defense missile, main battle tank, and individual combat weapon systems. Hanwha Systems was founded in 1977 and is based in Seoul, South Korea.

DEAL STATS #
Overall 2 of 2
Sector (Marine) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Pennsylvania) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-18 Phasor Solutions

Arlington, Virginia, United States

Phasor Solutions is a developer of high throughput, enterprise-grade, modular phased array antennas. Phasor’s electronically steerable antennas (ESAs) are based on patented innovations in dynamic beamforming technologies and system architecture, enabling high-speed communications in-flight, at sea or land. Phasor is dedicated to meeting the growing, underserved and unmet needs of today’s network-centric travelers, who require broadband access everywhere, whether that is in-flight, at sea or overland. Phasor Solutions was formed in 2005 and is based in Arlington, Virginia.

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