Connecticut company buys share of Coast shipyard
Published: May 28,2013
GULFPORT — A private equity firm is taking an ownership stake in a Mississippi shipyard group.
Littlejohn & Co. of Greenwich, Conn., has bought part of Gulf Coast Shipyard Group, which owns the Trinity Yachts and TY Offshore shipyards in Gulfport and New Orleans.
The dollar amount and ownership share were not disclosed.
John Dane III, CEO of the shipyard group, says the company plans $9 million of improvements at its Gulfport yard, which will allow it to build more ships each year. A building will be expanded, its launching system will be upgraded, and a new crane will be installed.
Dane says Trinity has about 700 employees and is currently trying to hire another 100.
Trinity Yachts builds large private yachts, while TY Offshore builds offshore supply vessels and tank barges.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- (UPDATE) Prison won’t interrupt ex-prison chief’s retirement cash flow
- JOSH MABUS — Inbound marketing is fueled by wishful thinking
- Ex-prison boss and businessman admit to bribery scheme
- Kemper plant employee gag order continued
- WRESTLING SUCCESS — Ted DiBiase Jr. leaves ring to become entrepreneur
- MARTIN WILLOUGHBY — Doug Dale’s self-awareness helps lift him to top of his game
- ASA postmortem: industrial recruiting is a constant cycle of death and life
- The leadership styles of President Obama
- Two new casinos like the odds on Mississippi Gulf Coast
- Nehi Bottling Company has been a Cleveland fixture for 85 years