Titan Acquisition Holdings Acquires Huntington Ingalls' San Diego Shipyard

Lone Star Affiliate Acquires Titan Acquisition Holdings from Carlyle and Stellex

June 29, 2023

Industrial Services

An affiliate of Lone Star Funds has completed the acquisition of Titan Acquisition Holdings — the parent of Vigor Industrial LLC, MHI Holdings LLC and Continental Maritime of San Diego — from funds managed by The Carlyle Group and Stellex Capital Management. The transaction, first announced in February 2023, closed in mid-June 2023; financial terms were not disclosed. Titan is a bi-coastal leader in ship repair, marine and heavy fabrication serving U.S. government and commercial maritime customers.

ARMADA Parent Inc. Acquires Poseidon Industrial LLC

November 12, 2025

Aerospace & Defense

ARMADA Parent Inc., a PE-backed maritime and defense services platform majority owned by Carlyle and Stellex Capital Management, has acquired Poseidon Industrial LLC. The acquisition strengthens ARMADA's ship repair, modernization, and systems-integration capabilities to better support U.S. Navy and defense programs.

The Carlyle Group and Stellex Capital Acquire and Merge Vigor Industrial and MHI Holdings

October 14, 2019

Industrial Services

Global investment firm The Carlyle Group and private equity firm Stellex Capital Management have closed their acquisition of Vigor Industrial LLC and MHI Holdings LLC and merged the businesses to create a bicoastal ship repair and fabrication platform. Carlyle will be majority owner, Stellex contributed equity, Jim Marcotuli was appointed CEO of the combined company, and legacy leaders including Frank Foti and Tom Epley will remain in board/executive roles.

NSC Technologies Acquires Shipyard Staffing

December 1, 2023

Staffing & HR

NSC Technologies, a portfolio company of White Wolf Capital Group, has acquired Shipyard Staffing to expand its marine and skilled trades staffing capabilities. The add-on strengthens NSC's platform in the shipyard and marine infrastructure market; financial terms were not disclosed.

Hanwha Systems & Hanwha Ocean Acquire Philly Shipyard from Aker ASA

June 20, 2024

Manufacturing

Hanwha Systems and Hanwha Ocean will invest $100 million to acquire Philly Shipyard from Aker ASA, bringing a U.S. Jones Act shipbuilder into the Hanwha group. The acquisition aims to expand Hanwha’s shipbuilding and defense capabilities in the United States by combining Hanwha’s naval systems and marine technology with Philly Shipyard’s U.S. shipbuilding operations and Jones Act-compliant production.

The Carlyle Group and Stellex Capital Acquire IMIA Group Holdings from J.F. Lehman & Company

November 11, 2021

Aerospace & Defense

The Carlyle Group and Stellex Capital Management have acquired IMIA Group Holdings from J.F. Lehman & Company. IMIA, headquartered in Spanish Fort, Alabama, is a leading provider of multi-disciplined marine preservation, scaffolding, environmental containment and staffing services for U.S. Navy MRO and new construction, with a workforce of over 1,500 employees.