Funds managed by global investment firm Carlyle (NASDAQ: CG) and private equity firm Stellex Capital Management announced a definitive agreement to sell Titan Acquisition Holdings, a bi-coastal leader in ship repair services and marine and heavy complex fabrication, to an affiliate of Lone Star Funds. The transaction is expected to close in 2023 upon satisfaction of customary closing conditions, including certain governmental approvals. Financial terms were not disclosed.
Latham & Watkins LLP represents Titan, Carlyle, and Stellex in the transaction with a corporate deal team led by Washington, D.C. partners Dan Lennon and Nick Luongo, with associates Ryan Zumwalt, Joe Altieri, and Zach Lippman. Advice was also provided on tax matters by New York partners David Raab and Alan Kimball, with associate Ron Moore; on employment/benefits matters by Washington, D.C. partners David Della Rocca and Nikhil Kumar, with associate Victoria Wolfe; on government contracts matters by Washington, D.C. partner Kyle Jefcoat and Washington, D.C. counsel Dean Baxtresser, with associates Allen Perry and Blake Page; on environmental matters by Washington, D.C. partner James Barrett and Los Angeles counsel Josh Marnitz, with associate Anna Dykema; on intellectual property matters by New York partner Steven Betensky, with associate Zachary Shufro; on anticorruption matters by Washington, D.C. partner Erin Brown Jones, with associate Athena Katsampes; on export controls/sanctions matters by Washington, D.C. partner Les Carnegie and Washington, D.C. counsel Andrew Galdes, with associates Zach Eddington and Julie Choi Shin; on real estate matters by New York partner Dara Denberg and New York counsel Shira Bressler, with associates Lauren Mastronardi and Michael Nieberg; on data privacy matters by Washington, D.C. partners Tony Kim, Jennifer Archie, and Marissa Boynton, with associate Jimmy Smith; on antitrust matters by Washington, D.C. partner Marc Williamson and Washington, D.C. counsel Peter Todaro, with associate Zoe Hutchinson; on private equity finance matters by Washington, D.C. partners Jeff Chenard and Manu Gayatrinath, with associates Marie Greenman and Dalton Downing; and on insurance matters by Los Angeles partner Drew Levin, with associate Harrison White.