Antin Snaps Up Vigor Marine in $1B+ Shipyard Bet on US Navy Boom
French infrastructure fund Antin takes the helm as Lone Star exits.
French investment fund Antin Infrastructure Partners has finalized the acquisition of Vigor Marine Group (VMG), a major U.S. shipyard operator, from UK-based Lone Star Funds. The deal marks the third time the company has changed hands under private equity ownership, with Antin emphasizing plans to expand VMG’s operations—particularly along the Pacific Coast—amid growing demand in U.S. shipbuilding.
Headquartered in Portland, Oregon, VMG operates a network of shipyards and fabrication facilities in Seattle, Vancouver (WA), San Diego, and Norfolk (VA), boasting six drydocks and 29 berths. The company, which surpassed $1 billion in revenue in 2025, employs roughly 2,700 workers and serves both government and commercial clients, including the U.S. Navy, Coast Guard, and Military Sealift Command, as well as state ferry systems and the cruise industry.
VMG CEO Francesco Valente hailed the transaction as a “tremendous opportunity” to solidify the company’s position as a “technologically advanced” provider for defense and maritime sectors. “This partnership represents a key moment for VMG and our maritime industrial base,” Valente stated, highlighting Antin’s recognition of “the value and opportunity in U.S. shipyards” amid policy-driven expansion under the Trump administration’s naval and Coast Guard buildup.
French Private Equity Firm Antin Takes Over Vigor Marine Group: Antin Infrastructure Partners
Antin’s investment aligns with its broader strategy in U.S. infrastructure, targeting transportation, energy, and digital sectors. The firm takes over after Lone Star’s three-year tenure (2023–2026), during which VMG consolidated five separate entities under one brand, invested $170 million in upgrades, and forged partnerships—such as with Samsung Heavy Industries—to enhance maintenance capabilities and workforce development. Valente and VMG’s U.S.-based leadership will remain at the helm.
VMG’s origins trace back to acquisitions by Carlyle Group and Stellex Capital (2015), which assembled the platform by integrating Vigor Industrial (Portland), MHI Holdings (Norfolk), and Continental Maritime of San Diego into a unified defense and commercial ship repair powerhouse.
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