Transaction
Share
Generational Equity Advises Oceanwide Repair in its Recapitalization with Fletch Equity
By Generational Equity
01/26/2023
Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the majority recapitalization of its client, Oceanwide Repair, with Fletch Equity (Fletch). The Fletch team will be partnering with the founders of Oceanwide to grow the company’s capabilities, scale and geographic footprint. The acquisition closed January 18, 2023.
Located in Long Beach, California, Oceanwide Repair (Oceanwide) provides marine ship repair services for a variety of vessels from tugboats and barges to very large oil tankers, bulk carriers, passenger ships, and container ships. Revenue is derived from structural steel repairs, piping repair and fabrication, mechanical and rigging, underwater hull repair, and other critical services.
The Company serves diversified markets including commercial vessels, US Maritime Administration (MARAD), Military Sealift Command (MSC), and related entities. Oceanwide is the largest ship repair force in the Long Beach/Los Angeles, CA Port area, with Repair facilities also in Oakland/San Francisco, CA and recently opened in Tacoma /Seattle, WA. The Company offers a 24-hour Emergency Ship Repair Service to complete necessary repairs in the given time frame.
Fletch Equity, located in Los Angeles, California, is a private equity group that invests in and partners with family and entrepreneur-owned businesses in the U.S. and Canada. Their founding team has collectively spent 40 years executing buy-and-build strategies in the lower middle market developing valuable businesses across a wide range of industries including business and consumer services, industrials, transportation and healthcare services.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham, and his team, led by Managing Director, M&A, Mike Meredith, successfully closed the deal.
“Fletch Equity looks forward to working with the sellers to expand the Company over the next several years,” said Meredith.
About Generational
Generational Group, headquartered in Dallas, is a leading, award winning, full-service M&A advisory firm. With more than 350 professionals located throughout 16 offices in North America, the company helps business owners release their business’ wealth by providing growth consulting, merger, acquisition, and wealth management services. The Generational suite of advisory services includes strategic growth consulting, exit planning education, business valuation, value enhancement strategies, M&A services, digital services, and wealth management.
The M&A Advisor named Generational Group Investment Banking Firm of the Year in 2016, 2017, 2018, 2022 & 2024. They also awarded us Valuation Firm of the Year and M&A Consulting Firm of the Year in 2022 and 2023. For more information, visit: https://www.generational.com.