Home / M&A Activity / Carlyle Group, Stellex Close Purchase of Vigor, MHI; Jim Marcotuli Named CEO of Combined Firm

Carlyle Group, Stellex Close Purchase of Vigor, MHI; Jim Marcotuli Named CEO of Combined Firm

Jeff Brody
Jim Marcotuli

The Carlyle Group (Nasdaq: CG) 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.

Carlyle said Monday Jim Marcotuli, a more than 30-year defense and manufacturing industry leader, has been appointed CEO of the combined entity.

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.

Tom Epley will directly report to Marcotuli as he continues to lead MHI Holdings and MHI Ship Repair & Services. Frank Foti will step down from his position as Vigor’s CEO but will continue to serve on the combined entity’s board as vice chairman and investor.

Check Also

KBR Subsidiary Lands Potential $128M NOAA Observation Network Mgmt Support IDIQ

KBR’s (NYSE: KBR) Stinger Ghaffarian Technologies subsidiary has secured a potential five-year, $128.4M contract to provide data processing and technical services for a National Oceanic and Atmospheric Administration network system used to process Earth observation data.

Raytheon Awarded Potential $353M Navy Contract for Rolling Airframe Missile Components

Raytheon (NYSE: RTN) has secured a potential $353.3M contract from the U.S. Navy to provide guided missile round packs and spare replacement parts for the Block 2 and 2A variants of the Rolling Airframe Missile system. The contract includes foreign military sales to Turkey, the United Arab Emirates, Saudi Arabia, Egypt and Germany, the Department of Defense said Monday.