BAE Systems has agreed to acquire Atlantic Marine from JFL-AMH Partners, LLC, for the price tag of $352 million. The move will expand BAE’s current marine offerings.
Atlantic Marine is a privately-held firm focused on vessel maintenance, repair, overhaul and conversion (MROC), marine fabrication, and ship construction services provider with operations in the southeastern U.S.
According to BAE, “the acquisition does not include Atlantic Marine’s Boston and Philadelphia operations, which will be retained by JFL-AMH Partners, LLC. The acquisition will be funded from BAE Systems’ existing cash resources.”
“BAE Systems’ strategy for our ship repair business is successfully growing marine sustainment activities in surface ship repair, as well as migrating our capabilities into naval modernization and upgrade. The acquisition of Atlantic Marine’s operations, highly skilled workforce, and marine fabrication capabilities will enhance BAE Systems’ ability to serve customers in the naval support and upgrade sector, ” said Linda Hudson, President and CEO, BAE Systems, Inc.