Thursday 26 January 2023

US-based mergers and acquisitions advisor Generational Equity advised on the majority recapitalization of its client, California-based marine ship repair services provider Oceanwide Repair, with Fletch Equity, the firm said.

The Fletch team will be partnering with the founders of Oceanwide to grow the company's capabilities, scale and geographic footprint.

Located in Long Beach, California, Oceanwide Repair (Oceanwide), provides marine ship repair services for a variety of vessels from tugboats and barges to very large oil tankers, bulk carriers, passenger ships, and container ships.

Revenue is derived from structural steel repairs, piping repair and fabrication, mechanical and rigging, underwater hull repair, and other critical services.

The company serves diversified markets including commercial vessels, US Maritime Administration (MARAD), Military Sealift Command, and related entities.

Oceanwide is the largest ship repair force in the Long Beach/Los Angeles, CA Port area with Repair facilities also in Oakland/San Francisco, CA and recently opened in Tacoma /Seattle, WA.

The company offers a 24-hour Emergency Ship Repair Service to complete necessary repairs in the given time frame.

Fletch Equity, located in Los Angeles, California, is a private equity group that invests in and partners with family and entrepreneur owned businesses in the US and Canada.