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Carlyle, Stellex Capital close acquisition of ship repair service providers

Private equity firms Carlyle Group LP and Stellex Capital Management LP wrapped up their acquisition of Vigor Industrial LLC and MHI Holdings LLC.

Following the deal completion, the buyout firms appointed Jim Marcotuli as CEO of the newly created company, effective Oct. 14.

Marcotuli previously was interim chairman and CEO of Remington Outdoor Co. and CEO of North American Bus Industries Inc.

Vigor founding CEO Frank Foti stepped out of his role while remaining an investor in the new parent company and serving as its vice chairman. Tom Epley will continue to lead MHI Ship Repair & Services LLC and MHI Holdings LLC.