Atlantic Marine buys drydocks, repair company

Atlantic Marine Holding acquired two firms this week.

   The company bought Boston Ship Acquisition, which operates two large dry docks in Boston and Philadelphia and provides maintenance, repair, overhaul and conversion services for non-U.S. Navy, government vessels and cruise ships.

   In addition, Atlantic Marine took over Millennium Industrial, as well as Marine Solutions, which provide remote, offshore maintenance, repair and overhaul services for offshore rigs, offshore support vessels, drill ships and cruise vessels. Millennium operates in the Gulf of Mexico and international markets.

   Atlantic Marine is owned by J.F. Lehman & Co., the New York investment company started by the former Navy secretary under President Reagan. J.F. Lehman & Co. is also an investor in the parent company of Hawaii Superferry, which operates a high speed ferry between O'ahu and Maui.

Source: American Shipper