MOSS POINT — BAE Systems has completed its acquisition of Atlantic Marine Holding Company after receiving all necessary U.S. regulatory approvals.
On May 18, the company announced its definitive agreement to acquire Atlantic Marine from JFL-AMH Partners, LLC, a portfolio company of the private-equity firm J.F. Lehman & Company, for a cash consideration of $352 million.
The acquired Atlantic Marine operations at Moss Point, Mayport and Jacksonville, Fla., and Mobile, Ala., employ approximately 1,000 people and will become known as BAE Systems Southeast Shipyards. This new business provides vessel maintenance, repair, overhaul and conversion, marine fabrication and ship construction services.
“BAE Systems Southeast Shipyards will complement our existing ship repair, maintenance, and modernization capabilities to further serve the U.S. Navy and other maritime customers,” said Bill Clifford, president of BAE Systems Ship Repair.