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Tom Epley News

14 Oct 2019

The Carlyle Group, Stellex Capital Complete Acquisition of Vigor, MHI

Frank Foti (CREDIT: Vigor)

Global investment firm The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management today announced they have closed on their acquisition of Vigor Industrial LLC and MHI Holdings LLC. In addition, Carlyle and Stellex announced they have appointed Jim Marcotuli as CEO of the newly created company comprising Vigor and MHI, effective today.Marcotuli brings more than 30 years of leadership experience in the defense and manufacturing industries. He has served in a number of executive and operating roles with Carlyle portfolio companies and in industries spanning defense…

25 Jul 2019

Vigor, MHI Acquired and Merged

“Through this transaction, Vigor gains responsible, forward-thinking investors who will seek to build on our current platform while maintaining a values-driven culture,” said Frank Foti, President and CEO of Vigor. Photo: Vigor

In one a dramatic U.S. shipbuilding and repair move it was announced today that The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management signed a definitive agreement to acquire and merge Vigor Industrial LLC, an infrastructure, defense, and maritime services company based in Portland, Oregon, and MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia.The transaction, subject to customary closing conditions…

27 Aug 2002

United Defense's Norfolk Shipyard Wins Ship Repair Contract

United Defense Industries, Inc. announced today the U.S. Navy's contract award to the Norfolk, Va., shipyard, NORSHIPCO, for the topside phased-maintenance, fixed-price availability work on the dock landing amphibious-class ship USS WHIDBEY ISLAND (LSD-41), the lead ship in its class home-ported in Norfolk. NORSHIPCO is a member of United States Marine Repair, Inc. (USMR), a subsidiary of United Defense. The basic award of the contract is valued at $12.2 million and with funded options, the total contract value would be in excess of $14 million. The ship is scheduled to arrive at NORSHIPCO on September 9, 2002. Work is expected to be completed on February 10, 2003. NORSHIPCO performed a similar availability on the WHIDBEY ISLAND in 1999.

17 Sep 2002

NORSHIPCO Receives Award

United Defense Industries, Inc. announced the receipt of one of the U.S. Navy’s most prestigious awards, the Theater Surface Combatants Award for Excellence, at its shipyard in Norfolk, Va. The award, formerly titled the AEGIS Excellence Award, was presented to NORSHIPCO, a member of the United States Marine Repair (USMR) family of shipyards, during a ceremony at the yard in August. Rear Adm. William J. Cobb, Jr. presented the award to Tom Epley, NORSHIPCO’s president and general manager, before a room filled with representatives from the Supervisor of Shipbuilding in Portsmouth, Va., Navy officials and shipyard workers. USMR, recently acquired by United Defense, now holds a total of four of these most coveted awards.

02 Oct 2002

United Defense Wins Contracts

United Defense, Industries, Inc announced today the award to NORSHIPCO a division of United States Marine Repair of 2 multi-year, multi-ship, cost plus contracts by the U.S. Navy’s Supervisor of Shipbuilding and Repair (SUPSHIP), Portsmouth worth nearly $90 million if all options are exercised. The largest contract, for six LSD-41 and 48 class ships, puts the entire LSD fleet of this ship type on East and West coasts under maintenance contracts with United States Marine Repair, a subsidiary of United Defense. The Advance Planning award totals $52,610. The combined total contract award, if the Navy exercises all options, is approximately $64 million.

12 Dec 2002

NORSHIPCO Wins Second Kennedy Contract Worth Over $21M

United Defense Industries, Inc. announced today a $21,694,925 award to its subsidiary, NORSHIPCO, by the Supervisor of Shipbuilding and Repair, Jacksonville, Fla., for the firm fixed-price Extended Selective Restricted Availability (EDSRA) on the Navy's aircraft carrier, USS JOHN F. KENNEDY (CV-67). NORSHIPCO previously won a $10 million contract in November for work on the KENNEDY. The work is scheduled to begin in January 2003 and to be completed by September 2003 at the Naval Station Mayport, Fla., the ship's home port. The work package focuses on work in two of the four engine rooms and includes main machinery room repairs consisting of tanks, boilers, forced draft blowers, steam valves, reduction gears, main feed pumps, main condenser, lube oil pumps, and piping.

07 Nov 2002

NORSHIPCO Wins $10M Contract

NORSHIPCO, a subsidiary of United Defense Industries, Inc., has been awarded a $10 million contract by the Supervisor of Shipbuilding and Repair, Jacksonville, for two fixed-price repair packages on the U.S. Navy's aircraft carrier, USS KENNEDY (CV-66). Work is scheduled to begin in January 2003 and be completed by late summer 2003 at Naval Station Mayport, Florida, the ship's homeport. NORSHIPCO has teamed with North Florida Shipyards, Inc. (NFSY), located in Jacksonville, Fla., to perform this work. According to Tom Epley, NORSHIPCO's president, "We are pleased to be teaming with the management and workers at North Florida Shipyards. This teaming arrangement with NFSY represents entry into another major Navy market by NORSHIPCO.