French Private Equity Firm Completes Acquisition of Vigor Marine
The sale of Vigor Marine Group to France’s Antin Infrastructure Partners has been completed by UK-based Lone Star Funds. It marks the third ownership of the group by private equity investors, with Antin saying it looks to continue the growth of the operations, especially on the Pacific coast.
Based in Portland, Oregon, Vigor Marine Group operates shipyard and fabrication facilities across Seattle, Portland, Vancouver, WA, San Diego, and Norfolk, VA, with six drydocks and 29 berths serving government and commercial clients. The company eclipsed $1 billion in revenue in 2025 and employs approximately 2,700 workers.
“This new partnership with Antin is a tremendous opportunity for Vigor Marine Group to realize our vision of being the most innovative, technologically advanced, forward-looking provider for the U.S. Navy and our many government and commercial customers,” said CEO Francesco Valente. “It represents a key moment for VMG and our maritime industrial base, when a strong investor recognized the value and opportunity in U.S. shipyards.”
The new investment comes as investors see strong emerging opportunities in U.S. shipbuilding tied to the Trump administration's expansion of the U.S. Navy and Coast Guard. Antin is pursuing a strategy of investments in U.S. infrastructure with elements in transportation, energy, and digital sectors.
Between 2023 and 2026, Vigor was owned by Lone Star Funds, which is based in the UK. The group highlights that during that time it expanded its offering and invested in its capabilities, including facility improvements and technology upgrades.
When Lone Star acquired the group then known as Titan Acquisition Holdings, it was comprised of Vigor Industrial, an infrastructure, defense, and maritime services company based in Portland, Oregon; MHI Holdings, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia; and Continental Maritime of San Diego (CMSD). Lone Star highlights working with the management team of Vigor, the businesses were integrated into a single brand and operating platform.
The business was assembled by its prior owners, global investment firm Carlyle and private equity firm Stellex Capital Management, which acquired MHI in 2015. The group said it recognized the potential to build a leader in critical ship repair services and commercial and defense-related fabrication, and it started the acquisitions to build the platform.
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Vigor Marine Group CEO Francesco Valente highlights that over the past three years, the company brought five separate entities under the same brand, invested over $170 million in facility improvements and technology upgrades, and introduced partnerships such as with Samsung Heavy Industries, which support expansion of MRO availabilities overseas and advances in U.S.-based technology and workforce development. Valente and the U.S.-based management team will continue to lead the company.
Vigor is a full-service prime contractor in the defense and maritime sectors, offering advanced services and complete solutions for the U.S. Navy, U.S. Army, Military Sealift Command, and U.S. Coast Guard. It also operates in the commercial sector supporting state ferry systems, the cruise industry, and commercial fishing.
