Carlyle Group, Stellex Close Purchase of Vigor, MHI; Jim Marcotuli Named CEO of Combined Firm

The Carlyle Group (Nasdaq: CG) and Stellex Capital Management completed the acquisition and merger of Vigor Industrial and MHI Holdings three months after they announced the transaction in an effort to form a combined ship repair and fabrications services company.

Carlyle said Monday Jim Marcotuli, a more than 30-year defense and manufacturing industry leader, has been appointed CEO of the combined entity.

Marcotuli is former interim chairman and CEO of Remington Outdoor Co. and CEO of North American Bus Industries. He has held senior leadership roles at Carlyle™s portfolio companies and several firms in defense, transportation, aerospace and automotive industries.

Tom Epley will directly report to Marcotuli as he continues to lead MHI Holdings and MHI Ship Repair & Services. Frank Foti will step down from his position as Vigor™s CEO but will continue to serve on the combined entity™s board as vice chairman and investor.

Sponsor

×

Stay ahead in GovCon

Join thousands of government contractors who rely on GovCon Wire for the latest updates in federal spending, bid opportunities, and compliance changes.

Whether you’re new to the space or scaling up, our brief keeps you informed and ready to act.

Email Address *

First Name *

Last Name

Position

Company

Related Articles

Exclusive: New CDAO Cameron Stanley Shares What Pentagon Needs From Industry

Cameron Stanley, the Department of War’s newly appointed chief digital and artificial intelligence officer, is calling on industry partners to…

GDIT Books $120M Air Force Task Order for Zero Trust Delivery

General Dynamics Information Technology has secured a U.S. Air Force task order worth $120 million to provide a zero trust…

Dark Wolf Introduces 4 New Practice Areas, Adds BrickStor Storage to Portfolio

Dark Wolf Solutions is reorganizing its operations and expanding its offerings to better support defense and intelligence missions and address…

Lockheed Martin Taps Dan Tenney as Global Business Development & Strategy SVP

Former NASA executive Dan Tenney has been selected to succeed Michael Williamson as senior vice president of global business development and strategy at Lockheed…

ManTech Appoints Brandy Durham as Data, AI Chief

bachelor’s”Brandy Durham has taken on new responsibilities as chief data and artificial intelligence officer at ManTech. The Herndon, Virginia-based company…

John Hart Joins Titan Technologies as Senior VP, Chief Growth Officer

John Hart has been appointed senior vice president and chief growth officer at Titan Technologies. Who Is John Hart? Hart, who announced…

IonQ Names Former DOW Tech Leader Katie Arrington as CIO

Quantum computing firm IonQ has appointed former Department of War technology official Katie Arrington as its next chief information officer,…

Hexagon US Federal Appoints Elliott Ferguson President, Announces Leadership Changes

Hexagon US Federal has appointed new leaders as part of organizational changes aligned with its efforts to enhance operations, drive strategic…

Redwire Retires Edge Autonomy Brand, Reshapes Business Around Space, Defense Tech

Redwire has retired the Edge Autonomy brand and reorganized its operations into two core business segments as the company looks…

Pentagon to Invest $1B in L3Harris Missile Unit

“The Department of War has agreed to invest $1 billion in L3Harris Technologies’ new business to expand the production of…

Michael Turner Joins HawkEye 360 as Chief Legal Officer

HawkEye 360 has appointed Michael Turner, a seasoned general counsel and business leader, as chief legal officer. The geospatial analytics…

Defense Unicorns Reaches $1B Valuation Following Series B Funding Round

Defense Unicorns has raised $136 million in Series B funding and reached a valuation exceeding $1 billion. How Will Defense…

You’ve already read all related articles.

Executive Interviews