Ketchikan shipyard operator sold to international private equity firm

The parent company of Vigor Industrial — whose subsidiary Vigor Alaska operates the state-owned Ketchikan Shipyard — is being sold to an affiliate of international private equity firm Lone Star Funds.

Financial terms of the deal involving the sale of the parent company, Titan Acquisition Holdings, were not disclosed in an announcement published last Friday by the Carlyle Group private investment firm.

Titan was formed in 2019 by Carlyle and the private equity firm Stellex Capital Management, bringing together the Portland-based Vigor Industrial with the Norfolk, Virginia-based MHI Holdings und...