French private equity firm Antin Infrastructure Partners, Paris, has agreed to acquire shipbuilding and repair company Vigor Marine Group, Portland, Ore., from an affiliate of Lone Star Funds, Dallas.
The transaction is subject to customary regulatory approvals and is expected to close in 2026. Financial terms were not disclosed.
Vigor Marine Group operates shipyard and fabrication facilities in Seattle; Portland; Vancouver, Wash.; San Diego; and Norfolk, Va. The company has six drydocks and 29 berths serving government and commercial customers. It generated nearly $1 billion in revenue in 2024 and employs about 2,700 workers.
Antin said in a press release that it will partner with Vigor to expand capacity across the company’s five U.S. locations, accelerate innovation in the maritime sector, and grow the company's workforce. Antin said its investment will focus on aligning capacity with the growing importance of U.S. Pacific seaports, upgrading infrastructure and technology across Vigor’s facilities, and expanding workforce training programs.
The deal represents Antin’s seventh investment through its $11.8 billion Flagship Fund V, which targets long-term investments in established infrastructure companies in North America and Europe. Antin has made prior U.S. investments in the transportation, energy, and digital sectors.
Vigor Marine Group CEO Francesco Valente and the U.S.-based management team will continue to lead the company.
Ryan Shockley, senior partner at Antin, said, "We’re thrilled to be partnering with Vigor Marine Group, which represents exactly the kind of long-term investment we pursue – essential U.S. infrastructure assets that require sustained capital commitment and operational continuity. We're focused on expanding capacity, accelerating innovation, and supporting workforce development so these shipyards can continue to serve their customers reliably over the long-term."
Valente said, "As a dedicated infrastructure investor, Antin is an excellent partner for our continued evolution as a leading repair, maintenance, and modernization provider in the United States. Antin takes a disciplined, long-term approach to investing in facilities, technology, and workforce development to ensure operational continuity and resilience. This partnership provides the added resources we need to take the next step in our long-term strategy and comes as our U.S.-based leadership team remains fully focused on operating our business and serving our customers."
J.P. Morgan Securities LLC is serving as financial adviser to Antin, with Latham & Watkins LLP and Milbank LLP acting as legal counsel. Evercore and Macquarie Capital are serving as financial advisers to Vigor Marine Group, and Kirkland & Ellis LLP is acting as legal counsel.
