Equity firm buys into shipyards

Private equity firm Littlejohn & Co. of Greenwich, Conn., now has an ownership stake in Gulf Coast Shipyard Group, which owns Trinity Yachts and TY Offshore shipyards in Gulfport and New Orleans. John Dane III, CEO of the shipyard group, says the company plans $9 million in improvements at the Gulfport yard, which will allow it to build more ships each year. Trinity, which builds large private yachts, has about 700 employees. TY Offshore builds offshore supply vessels and tank barges. (Sources: Multiple, including AP via Sun Herald, Maritime Executive, Marine Log, 05/28/13)