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

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.

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