Atlantic Marine buy finalized

BAE Systems has completed its acquisition of Atlantic Marine Holding Co. after receiving necessary U.S. regulatory approvals. The company announced in May its definitive agreement to acquire Atlantic Marine from JFL-AMH Partners, LLC, a portfolio company of the private-equity firm J.F. Lehman & Co., for a cash consideration of $352 million. The acquired Atlantic Marine operations at Mayport and Jacksonville, Fla., Moss Point, Miss., and Mobile, Ala., employ about 1,000 people and will become known as BAE Systems Southeast Shipyards. This new business provides vessel maintenance, repair, overhaul, and conversion; marine fabrication; and ship construction services. (Source: BusinessWire, 07/13/10)