PortandTerminal.com, October 15, 2019
The Carlyle Group and Stellex Capital Management completed the acquisition and merger of Vigor Industrial and MHI Holdings three months after they announced the transaction in an effort to form a combined ship repair and fabrications services company.
PORTLAND, OR – Global investment firm The Carlyle Group and private equity firm Stellex Capital Management today announced they have closed on their acquisition of Portland, Oregon-based Vigor Industrial and Norfolk, Virginia-based MHI Holdings.
The merged company seeks to become a “bicoastal leader” in ship repair services and commercial and defense-related fabrication services, with customers comprised of the U.S. Navy, U.S. Coast Guard, Military Sealift Command, Boeing, cruise lines, fishing fleets, barges and ferry services for local and state governments.
Carlyle and Stellex announced they have appointed Jim Marcotuli as CEO of the newly created company comprising Vigor and MHI, effective today.
Who is Jim Marcotuli?
Marcotuli is former interim chairman and CEO of Remington Outdoor Co. and CEO of North American Bus Industries. He has held senior leadership roles at Carlyle’s portfolio companies and several firms in defense, transportation, aerospace and automotive industries.
A native of Pennsylvania, Marcotuli holds a multi-disciplinary Bachelor of Science degree from Pennsylvania State University, with emphases in accounting, business administration and management psychology.
“Jim is a proven leader who excels at driving strong performance through motivating and building great teams,” said Derek Whang, Principal at The Carlyle Group. “He is a natural fit for Vigor and MHI, both in his leadership style and his background, and we’re looking forward to partnering with Jim and all employees and supporting them in this next phase of growth.”
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