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Antin Infrastructure Partners has completed its acquisition of Vigor Marine Group from an affiliate of Lone Star Funds, bringing one of the largest U.S. ship repair and marine services groups under the ownership of the global infrastructure investor.
The deal, announced as completed Monday, comes as rising U.S. Navy demand and a broader push to rebuild domestic maritime industrial capacity are driving investment into American shipyards.
Portland, Oregon-based Vigor Marine Group provides maintenance, repair and overhaul services, marine fabrication and other services to the U.S. Navy, defense and commercial maritime sectors. The company generated more than $1 billion in revenue in 2025 and employs approximately 2,700 workers.
Antin said its investment will support additional capacity, advanced manufacturing equipment and technology upgrades across Vigor's facilities, along with workforce training programs aimed at addressing persistent skilled labor shortages in the maritime sector.
"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 Vigor Marine Group 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," he added.
Vigor operates facilities in Seattle; Portland; Vancouver, Washington; San Diego; and Norfolk, Virginia, with six dry docks and 29 berths serving government and commercial customers.
The company has undergone significant consolidation in recent years. Its current structure traces back to 2019, when The Carlyle Group and Stellex Capital Management formed Titan Acquisition Holdings to combine several maritime businesses. Continental Maritime of San Diego was added in 2020, before Lone Star Funds became the controlling owner in 2023.
In June 2025, five businesses — Vigor, Continental Maritime of San Diego, MHI Ship Repair & Services, Seaward Marine Services and Accurate Marine Environmental — were formally brought together under the Vigor Marine Group name.
The consolidation created a national platform spanning ship repair and modernization, fabrication and specialized marine services, with customers including the U.S. Navy, Military Sealift Command, U.S. Army, U.S. Coast Guard, state ferry systems and commercial operators.
Over the past three years, Vigor said it has invested more than $170 million in facility improvements and technology upgrades. The company has also pursued partnerships with international shipbuilders, including Samsung Heavy Industries, aimed at expanding maintenance, repair and overhaul capabilities overseas while supporting technology and workforce development in the United States.
Antin said expanding Vigor's capacity will be a central focus following the acquisition, particularly as Pacific Coast shipyards take on greater importance to U.S. defense and maritime infrastructure.
"Vigor Marine Group represents the kind of long-term investment Antin pursues," said Ryan Shockley, senior partner at Antin Infrastructure Partners. "We are very excited about the platform and are focused on expanding capacity."
Valente and Vigor's existing U.S.-based management team will remain in place following the transaction.
For Antin, the acquisition is the seventh investment from its $11.6 billion Flagship Fund V, which targets established infrastructure businesses in North America and Europe. The Paris-listed firm manages more than €33 billion across investments in transportation, energy and environment, digital and social infrastructure.
The transaction adds another deep-pocketed investor to the U.S. maritime industrial base at a time when shipyard capacity and workforce constraints have emerged as major obstacles to Navy fleet maintenance and broader efforts to expand American shipbuilding.
J.P. Morgan Securities served as financial adviser to Antin, with Latham & Watkins and Milbank providing legal counsel. Evercore and Macquarie Capital advised Vigor Marine Group, while Kirkland & Ellis served as legal counsel.
