Vigor Industrial

About Vigor Industrial

Vigor Industrial, now part of Vigor Marine Group, is a key provider of maritime and industrial services, including shipbuilding, ship repair, and complex fabrication. The company's history traces back to 1995 when Frank Foti acquired Cascade General, a struggling ship repair company in Portland, Oregon. Raised in an immigrant family and initially working in his father's construction business, Foti returned to the industrial sector to transform the company. He established the Vigor Industrial name in 2000 after purchasing the Swan Island shipyard from the Port of Portland. Through a series of strategic acquisitions, Vigor expanded significantly. Key milestones include the purchase of Todd Shipyards in 2011 for $130 million, which doubled its workforce and made it a dominant force in the Pacific Northwest, and the acquisition of Alaska Ship & Drydock in 2012. Further diversification came with the 2014 merger with Oregon Iron Works, a specialist in advanced fabrication for sectors like aerospace and infrastructure. By 2019, Vigor was acquired and merged with MHI Holdings by The Carlyle Group and Stellex Capital Management, forming a new parent company, Titan Acquisition Holdings, to create a bicoastal entity. In 2025, Titan consolidated its holdings, including Vigor, under the unified brand Vigor Marine Group, and was later acquired by private equity firm Antin Infrastructure Partners in 2026. Vigor Marine Group operates through three main divisions: Maintenance & Modernization, Marine Services, and Marine Fabrication. The company serves a diverse client base that includes the U.S. Navy, U.S. Coast Guard, Military Sealift Command, commercial clients like fishing fleets and ferry services, and industrial sectors such as energy and infrastructure. Its business model is project-based, encompassing vessel repair and conversion, new vessel construction, and heavy, complex fabrication projects like bridge girders and nuclear containment devices. Notable projects include building a significant portion of the Washington State Ferries fleet, constructing the U.S. Army's new Maneuver Support Vessel (Light), and supporting the U.S. Navy's Arleigh Burke-class Destroyer Modernization program.