Titan to Buy HII’s San Diego Shipyard; Andy Green Quoted

Jeff Brody
Andy Green

Titan Acquisition Holdings has agreed to acquire Huntington Ingalls Industries’ (NYSE: HII) San Diego shipyard for an undisclosed sum in a move to expand its ship repair capabilities to better meet the needs of the U.S. Navy, U.S. Army and other defense customers.

The transaction will give HII a minority stake in Titan and is expected to close in the second quarter of 2020, subject to customary closing conditions, the companies said in a joint release published Wednesday.

The San Diego shipyard, formerly Continental Maritime of San Diego, is a division of HII’s technical solutions fleet support group and provides ship fitting, repair, welding, machinery, sheet metal repair and fabrication, pipefitting, boiler repair and preservation and marine electrical repair and installation services to defense and commercial clients.

“We believe this transaction will enable us to leverage complementary capabilities, capacity and facilities to improve efficiencies and better serve the needs of our U.S. Navy customer,” said Andy Green, president of HII Technical Solutions and a 2020 Wash100 award winner.

Titan offers ship repair, modernization and fabrication services to the defense sector. The company was established after The Carlyle Group (Nasdaq: CG) and Stellex Capital Management acquired and merged Vigor Industrial and MHI Holdings in October.

Latham & Watkins LLP served as Titan’s legal adviser in the transaction.

Check Also


Washington Headquarters Services Issues RFP for Acquisition Directorate Support Recompete

The Washington Headquarters Services has kicked off solicitations for the recompete of a multiple-award, indefinite-delivery/indefinite-quantity contract for analytic and technical support services to the WHS' acquisition directorate.

Liz Porter Health Group President Leidos

Leidos Promotes Liz Porter to Health Group President

Liz Porter, acting president of Leidos’ (NYSE: LDOS) health group since March, has been promoted to the position on a permanent basis. She will report directly to Roger Krone, chairman and CEO of Leidos and a 2020 Wash100 Award recipient.