Antin Infrastructure Partners has agreed to acquire Vigor Marine Group from an affiliate of Lone Star Funds, adding a U.S. maintenance, repair and overhaul platform with deep exposure to naval, defense and commercial maritime customers.  

The transaction continues Antin’s push into U.S. infrastructure following significant commitments across transportation, energy and digital assets and marks the seventh investment for its $11.8 billion Flagship Fund V, which targets long-term stakes in established infrastructure businesses in North America and Europe. 

Based in Portland, Oregon, Vigor Marine Group operates shipyard and fabrication facilities in Seattle, Portland, Vancouver, San Diego and Norfolk. The company generated nearly $1 billion in revenue in 2024 and employs roughly 2,700 workers. CEO Francesco Valente and the U.S.-based management team will continue to lead the business under Antin’s ownership. 

“We’re thrilled to be partnering with Vigor Marine Group, which represents exactly the kind of long-term investment we pursue – essential U.S. infrastructure assets that require sustained capital commitment and operational continuity,” said Ryan Shockley, senior partner at Antin. 

Under Lone Star’s ownership, Vigor Marine Group consolidated five separate entities under a single brand and invested more than $170 million in facility upgrades and technology, helping to position the platform for its next stage of growth with Antin. 

The transaction is expected to close in 2026. 

J.P. Morgan Securities LLC is serving as financial adviser to Antin and Latham & Watkins LLP and Milbank LLP are serving as legal counsel. Evercore and Macquarie Capital are serving as financial advisers to Vigor Marine Group and Kirkland & Ellis LLP is serving as legal counsel.