Marine services company Lind Marine, Vallejo, Calif., has been sold by private equity firm Kingswood Capital Management, Los Angeles, to infrastructure-focused investment firm Tallvine Partners, Miami. Terms of the transaction were not disclosed.
Kingswood originally acquired Lind Marine in 2022 alongside Seneca Partners, Grosse Pointe, Mich., and the company's owners, Christian and Aaron Lind, who retained a significant ownership stake at the time of that deal.
Founded in 1906 as an oyster shell business, Lind Marine has grown into a full-service marine operations company offering dredging, shipyard, salvage, marine environmental remediation, tug and barge services, and bareboat charters of vessels and cranes. The company operates throughout the San Francisco Bay, Mare Island, and the Sacramento and San Joaquin Rivers, and maintains a fleet of more than 40 vessels. It is currently led by the third generation of Lind family management. The company also operates Moose Boats, Vallejo, a manufacturer of aluminum catamarans and monohulls serving law enforcement, firefighting, the private sector, and the military.
“We are proud of what we achieved through our partnership with Christian Lind, Aaron Lind, and the entire Lind Marine team over the last four years,” Alex Wolf, founder and managing partner of Kingswood, said in a statement. “This is an excellent example of how we partner with founder families as they take on their first institutional capital, working with them and company leadership to evolve their businesses and deliver a good outcome for everyone involved.”
“The Lind family founded and built a multi-generational business with deep customer relationships and a strong reputation across the San Francisco Bay Area,” Michael Niegsch and Andrew Kovach, partners at Kingswood, said in a joint statement. “Together, we were able to build on that foundation by making key investments in the business, bringing in additional operational expertise, and most importantly, supporting Christian and Aaron in their vision for the company. We’re confident Lind Marine is well-positioned for continued growth.”
Raymond James, St. Petersburg, Fla., served as exclusive financial advisor to Kingswood on the transaction. Kirkland & Ellis, Chicago, provided legal counsel.
