BAE Systems finalized the acquisition of Atlantic Marine following approval from the government. In May, BAE announced an agreement to purchase Atlantic Marine from JFL-AMH Partners, LLC, a portfolio company of the private-equity firm J.F. Lehman & Company for $352 million.
According to the firm, “the acquired Atlantic Marine operations at Mayport and Jacksonville, Florida; Moss Point, Mississippi; and Mobile, Alabama, employ approximately 1, 000 people and will become known as BAE Systems Southeast Shipyards. This new business provides vessel maintenance, repair, overhaul, and conversion; marine fabrication; and ship construction services.”
“BAE Systems Southeast Shipyards will complement our existing ship repair, maintenance, and modernization capabilities to further serve the U.S. Navy and other maritime customers, ” said Bill Clifford, president of BAE Systems Ship Repair. “We are proud to welcome the highly skilled men and women of Atlantic Marine to BAE Systems. Together, we’ll continue to provide cost-effective solutions to meet our customers’ evolving requirements.”
