Antin Infrastructure Partners has finished buying Vigor Marine Group from an affiliate of Lone Star Funds. This deal brings one of the largest ship repair and marine services companies in the U.S. under the control of this global infrastructure investor.
The acquisition, which was announced on Monday, comes as the U.S. Navy has increased its demand and there is a wider effort to boost domestic maritime industrial capacity, prompting more investment in American shipyards.
Based in Portland, Oregon, Vigor Marine Group offers maintenance, repair, and overhaul services along with marine fabrication to the U.S. Navy and commercial maritime sectors. In 2025, the company reported over $1 billion in revenue and employs around 2,700 people.
Antin plans to use its investment to enhance Vigor's facilities by adding capacity, advanced manufacturing equipment, and upgrading technology. They also aim to support workforce training programs to combat ongoing skilled labor shortages in the maritime industry.
Vigor Marine Group’s CEO, Francesco Valente, commented, “This new partnership with Antin is a great chance for us to realize our goal of being the most innovative and technologically advanced service provider for the U.S. Navy and our other clients."
He also highlighted that this is an important moment for Vigor and the maritime industrial base, as a strong investor shows confidence in U.S. shipyards.
Vigor operates in several locations including Seattle, Portland, Vancouver, San Diego, and Norfolk, Virginia, with six dry docks and 29 berths that serve both government and commercial clients.
The company has seen significant consolidation in recent years. Its current form dates back to 2019 when The Carlyle Group and Stellex Capital Management created Titan Acquisition Holdings to merge various maritime businesses. Continental Maritime of San Diego joined in 2020, with Lone Star Funds taking control in 2023.
In June 2025, five companies — Vigor, Continental Maritime of San Diego, MHI Ship Repair & Services, Seaward Marine Services, and Accurate Marine Environmental — were officially grouped under the Vigor Marine Group name.
This consolidation created a national platform that offers ship repair, modernization, fabrication, and specialized marine services, catering to customers like the U.S. Navy, Military Sealift Command, U.S. Army, U.S. Coast Guard, state ferry systems, and commercial entities.
Over the past three years, Vigor has invested more than $170 million in improving its facilities and upgrading technology. The company has also sought partnerships with international shipbuilders, including Samsung Heavy Industries, to enhance its maintenance, repair, and overhaul capabilities abroad while supporting domestic technology and workforce development.
Following the acquisition, Antin stated that increasing Vigor's capacity will be a key priority, especially as shipyards on the Pacific Coast become increasingly vital to U.S. defense and maritime infrastructure.
Ryan Shockley, a senior partner at Antin Infrastructure Partners, remarked, “Vigor Marine Group represents the kind of long-term investment we pursue. We are very excited about this platform and are focused on expanding its capacity.”
Francesco Valente and Vigor's current management team will continue to lead the company after the transaction.
For Antin, this acquisition marks the seventh investment from its $11.6 billion Flagship Fund V, which focuses on established infrastructure businesses in North America and Europe. The Paris-based firm manages over €33 billion in various investments, including transportation, energy, environment, digital, and social infrastructure.
This transaction brings another well-funded investor into the U.S. maritime industrial sector, particularly at a time when shipyard capacity and workforce limitations pose significant challenges for Navy fleet maintenance and efforts to boost American shipbuilding.
J.P. Morgan Securities acted as the financial advisor to Antin, with legal support from Latham & Watkins and Milbank. Evercore and Macquarie Capital advised Vigor Marine Group, while Kirkland & Ellis provided legal counsel.