Lone Star Funds to acquire Titan from Carlyle Group and Stellex Capital.

Lone Star Funds, a private equity firm advising funds that invest globally in real estate, equity, credit and other financial assets, agreed to acquire Titan, a bi-coastal provider of ship repair services and marine and heavy complex fabrication, from private equity firms Carlyle Group and Stellex Capital. Financial terms were not disclosed. "We are proud of the many accomplishments of the Titan team over the course of our partnership. Throughout a particularly unprecedented time, with the pandemic and supply chain constraints, the Titan team has continually executed on its strategy to successfully grow the business, refine its market segments, and expand into new geographic territories. Titan is well-positioned to maintain its positive trajectory, and we wish the team continued success in its next phase of growth," Derek Whang, Carlyle Managing Director.