M&A Deal Summary

Vigor Industrial Acquires MHI Ship Repair & Services

On July 25, 2019, Vigor Industrial acquired marine company MHI Ship Repair & Services from Stellex Capital Management

Acquisition Highlights
  • This is Vigor Industrial’s 2nd transaction in the Marine sector.
  • This is Vigor Industrial’s 2nd transaction in the United States.
  • This is Vigor Industrial’s 1st transaction in Virginia.

M&A Deal Summary
Date 2019-07-25
Target MHI Ship Repair & Services
Sector Marine
Buyer(s) Vigor Industrial
Sellers(s) Stellex Capital Management
Deal Type Merger

Target

MHI Ship Repair & Services

Norfolk, Virginia, United States
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

Vigor Industrial

Portland, Oregon, United States
Category Company
Founded 1916
Sector Marine
DESCRIPTION

Vigor Industrial is a diversified industrial business specializing in shipbuilding, ship repair, and handling important, complex projects in support of energy generation, the nation’s infrastructure, and national defense. With a deep respect for people and the planet, the company strives to be a positive, regenerative force for good environmentally, in the lives of its employees and in the community. Vigor was formed in 1916 and is based in Portland, Oregon.

DEAL STATS #
Overall 2 of 2
Sector (Marine) 2 of 2
Type (Merger) 1 of 1
State (Virginia) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-08 Seward Ship s Drydock

Seward, Alaska, United States

Seward Ship's Drydock, Inc. is a provider of drydock services in the marine industry in Alaska.

Buy -

Seller(S) 1

SELLER

Stellex Capital Management

Investor Investor Investor Investor Investor

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 1 of 4
Sector (Marine) 1 of 2
Type (Merger) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 3
Year (2019) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-11 Cisco Industrial Services

Odessa, Texas, United States

Cisco Industrial Services is a provider of equipment, services, parts, and supplies to the midstream infrastructure, general construction, agriculture, and general industrial markets. Cisco was founded in 1978 and is based in Odessa, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-11 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.

Sell $352M
Mergr

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