Aerospace Group:

Business/Financial

Lone Star Funds Completes Acquisition Of Ship Repair, Marine Businesses

By Cal Biesecker

Thursday, June 29th, 2023

SHARE:

Lone Star Funds Completes Acquisition Of Ship Repair, Marine Businesses

U.S. Navy Independence-variant littoral combat ship USS Manchester docked at Vigor Industrial. Photo: Vigor Industrial

The investment firms Carlyle [CG] and Stellex Capital Management on Thursday said they have completed the sale of ship repair and marine and heavy complex fabrication businesses to the private equity firm Lone Star Funds. The transaction was first announced in February and deal terms were not disclosed. Titan Acquisition Holdings, the ship repair and marine business now part of Lone Star Funds, consists of Vigor Industrial, an Oregon-based defense and maritime services company, Virginia-based MHI Holdings, which provides ship…

Pentagon

Amid Questions On Weapons Stockpiles, Caine Says U.S. Has ‘Sufficient’ Munitions For Iran Operation

Pentagon leaders on Wednesday sought to quell concerns over the rate at which the U.S. is employing critical munitions in its military strike campaign against Iran, with lawmakers also pressing […]

Congress

SASC Leaders Criticize Trump’s Defense Strategy, Press Colby On Policy Shifts

Senate Armed Services Committee (SASC) leadership on Tuesday criticized the Trump administration’s new National Defense Strategy (NDS) and pressed the Pentagon’s top policy official to explain the document’s priorities. SASC […]

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]

Congress

“Not Sure How They Get To Where They Wanna Be,” Calvert Says of $1.5 Trillion Defense Topline Proposal

As the federal government enters a third week of tardiness in a fiscal 2027 budget release, a big question is how the Pentagon will be able to spend $500 billion […]