BAE looking to buy Atlantic Marine
by Wally Northway
Published: May 19,2010
MOSS POINT — BAE Systems has entered into a definitive agreement to acquire Atlantic Marine Holding Company from JFL-AMH Partners, LLC, a portfolio company of the private equity firm J.F. Lehman & Company, for a cash consideration of $352 million.
Atlantic Marine is a privately held vessel maintenance, repair, overhaul and conversion, marine fabrication and ship construction services provider with operations at Moss Point, Mayport and Jacksonville, Fla., and Mobile, Ala.
Atlantic Marine employs approximately 1,000 people and will become part of BAE Systems’ Ship Repair business. The acquisition will complement BAE Systems’ existing ship repair and upgrade capabilities to further serve the U.S. Navy and other maritime customers.
The proposed acquisition is conditional, among other things, upon receiving certain U.S. regulatory approvals and is expected to close in the third quarter of 2010.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “BAE looking to buy Atlantic Marine”
Top Posts & Pages
- George’s Girls put shopping skills to work
- Justice Department files complaint against tax preparer
- DMR pays accounting firm more than double contract's worth
- Following ruling, Entergy to hand over records to county
- Report: State's emergency care ranks highest in Southeast
- Boyd Gaming reports drop in in-state net revenue
- Union-restricting legislation moves forward
- Chris McDaniel gets a thank you note from Travis Childers
- USM staffers Olivia Hurst and Catherine Lott recognized by Public Relations Association of Mississippi