BAE looking to buy Atlantic Marine
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”
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- UMMC reaching out after death of high school football player
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Gov. Bryant intervening in same-sex couple's divorce
- Vicksburg mayor marries during lunch break
- City leaders vote against offering insurance to one adult, possibly same-sex partner
- School superintendent says he never intended to hire wife's uncle, but recommended him
- Mississippi River mayors announce 'seed money' for waterfront developments
- MBJ's Business Marketplace set for Friday at Mississippi's Trade Mart
- Biloxi baseball project still alive but may be held for 2015