Defense Arm of US Investment Manager Buys Fraser Industries

A group focused on investments in the U.S. defense sector, recently launched by a Florida-based investment manager, has agreed to acquire the Wisconsin-based Fraser Shipyards as part of a planned move into shipbuilding and defense sector investments. Wildcat Defense, part of Wildcat Equity Partners, reports it plans to make investments in the operations after closing the acquisition of Fraser Industries, while it is also exploring other investments, including an offer it made to acquire Austal’s U.S. operations.

The operations of Fraser Industries include Fraser Shipyard, based in Superior, Wisconsin, which has been building and maintaining ships on the Great Lakes and for the military since 1888. The company also consists of Lake Assault Boats, Northern Engineering, and Fraser Terminal. Wildcat reports the company will continue under existing management and that it expects to invest $350 million into the yard to grow the Faster workforce and expand the manufacturing footprint in support of the plans already in the planning stages at the shipyard.

The investment manager points to the emerging opportunities as the United States looks to modernize infrastructure at U.S. shipyards. The group had recently formed Wildcat Defense and earlier in the week formally announced the new segment, saying it was focusing on acquiring, investing in, and operating strategically important companies across the U.S. defense industrial base.

This story was originally published by The Maritime Executive. Read the full story at The Maritime Executive →