Vigor Marine Group
| Company type | Private |
|---|---|
| Industry | Shipbuilding, Ship repair, Marine services |
| Predecessor | Cascade General, Vigor Industrial |
| Founded | 2000 (as Vigor Industrial) |
| Founder | Frank Foti, Andrew Rowe (as Cascade General owners) |
| Headquarters | Portland, Oregon , United States |
Area served | United States (Oregon, Washington, California, Virginia) |
Key people | Francesco Valente (CEO) |
| Products | Shipbuilding, ship repair, marine vessels (barges, tugboats, ferries, naval ships) |
Number of employees | 2,500 |
| Parent | Titan Acquisition Holdings (until 2023), Lone Star Funds (private equity owner since 2023) |
Vigor Marine Group, previously known as Vigor Industrial, is a U.S.-based enterprise specializing in shipbuilding, ship repair, and marine-related services, with its main office located in Portland, Oregon. The company manages shipyards throughout Oregon, Washington, California, and Virginia, employing a workforce of approximately 2,500 individuals.
The company traces its roots back to Cascade General, which initiated ship repair activities at the Port of Portland's Swan Island shipyard in 1987. Cascade General purchased the shipyard in 2000 and subsequently rebranded as Vigor Industrial. Originally concentrating on repair services, Vigor established the barge manufacturing firm U.S. Barge in 2006 through a partnership with Oregon Iron Works.
During the 2010s, Vigor expanded its operations by acquiring Todd Shipyards, Alaska Ship and Drydock, Oregon Iron Works, and Kvichak Marine Industries. In 2019, private equity investors recapitalized the company, creating Titan Acquisition Holdings as its parent organization. By 2025, Vigor Industrial merged with other Titan-owned companies to form the Vigor Marine Group.
As Cascade General
The Swan Island shipyard in Portland, now part of Vigor, was originally established in 1942 as the Kaiser Company’s Swan Island Shipyard. Following World War II, ownership transferred to the Port of Portland, which operated it as a repair facility leasing space to various contractors, including Cascade General beginning in 1987.
During the economic downturn of the 1990s, many operators left Swan Island yard, resulting in Cascade General becoming the sole tenant by 1994. To ensure operational continuity, port commissioners favored a single-operator approach and launched a bidding process to manage the yard.
In March 1995, entrepreneurs Frank Foti and Andrew Rowe purchased Cascade General, with Foti assuming the CEO role. Although the company initially held no repair contracts at acquisition, they secured an exclusive five-year operating agreement for Swan Island in May 1995 valued at $5.8 million annually. Following this, Cascade General expanded its repair services and strengthened its financial standing, reaching $132 million in revenue and employing 1,200 workers by 1997.
In 1998, Foti further grew the business by acquiring Washington Marine Repair located in Port Angeles, Washington.
Acquisition of the Swan Island shipyard
Between 1997 and 1998, Cascade General entered negotiations with the Port of Portland to purchase the Swan Island shipyard. After obtaining financing from British shipbuilder Cammell Laird along with additional lenders, Cascade General completed the acquisition in 2000 for $30.8 million and rebranded as Vigor Industrial. The transaction included ownership of 57 acres of land along with cranes, dry docks, and related equipment.
When Cammell Laird entered receivership in 2001, Cascade General experienced financial difficulties. Under pressure from lenders, it sold Dry Dock 4—then among North America’s largest dry docks—to a Bahamian ship repair firm for $25 million. This sale sparked controversy since the dry dock had originally been financed via an $84 million government bond offering issued in 1976.
In 2006, Vigor Industrial partnered with Oregon Iron Works of Clackamas, Oregon to create U.S. Barge, a joint venture focused on barge construction. Their inaugural barge was launched in October 2007. The company was later renamed US Fab before adopting the name Vigor Fab in 2013.
Expansion and acquisitions
In 2010, Vigor expanded its operations by purchasing Marine Industries Northwest located in Tacoma, Washington. The following year, it acquired Todd Shipyards Corporation for $130 million, adding shipyards in Seattle, Bremerton, and Everett to its portfolio. Todd Shipyards was fully integrated as a subsidiary under the name Vigor Shipyards, reinforcing Vigor’s status as the leading shipbuilding and marine repair firm in the Pacific Northwest.
The company further grew in 2012 by acquiring Alaska Ship & Drydock based in Ketchikan, Alaska, which made it the largest ship repair facility on the West Coast by square footage. This operation was rebranded as Vigor Alaska in 2013.
In May 2014, Vigor completed a merger with Oregon Iron Works, making it a fully owned subsidiary. Later that August, Vigor launched The Vigorous, a $40 million floating drydock at its Portland shipyard. Measuring 960 feet in length, it became the largest floating drydock in North America and allowed for servicing larger vessels.
March 2015 saw Vigor purchase Seattle’s aluminum workboat manufacturer Kvichak Marine Industries, which was subsequently renamed Vigor Ballard. However, in 2017, Vigor announced it would close its Everett shipyard.
A significant achievement occurred in late 2017 when Vigor secured a $979.4 million contract from the U.S. Army to build Maneuver Support Vessel (Light) landing craft—the largest contract in the company’s history.
In 2018, OSHA issued multiple safety violation citations to Vigor’s Swan Island facility.
Early 2019 brought the acquisition of Christensen Yachts’ facilities in Vancouver, Washington and the closure of the Ballard site (formerly Kvichak Marine Industries). Employees were given opportunities to relocate to Vancouver to support production of landing craft for the U.S. Army.
Recapitalization and merger
In July 2019, private equity firms The Carlyle Group and Stellex Capital Management acquired Vigor Industrial and merged it with Norfolk-based MHI Holdings LLC, which includes MHI Ship Repair, Seaward Marine Services, and Accurate Marine Environmental. This consolidation formed the parent entity Titan Acquisition Holdings. The transaction was described by Vigor as a recapitalization intended to replace previous investors with partners capable of backing global expansion. Jim Marcotuli succeeded Frank Foti as CEO.
Titan Acquisition Holdings expanded further in 2020 by acquiring San Diego Shipyard (formerly Continental Maritime of San Diego) from Huntington Ingalls Industries. In 2021, Vigor announced the shutdown of its Port Angeles facility.
In 2023, Titan Acquisition Holdings was sold to private equity firm Lone Star Funds. The following year, Francesco Valente took over as CEO after Jim Marcotuli retired.
In March 2025, the Alaska Industrial Development and Export Authority declared it would not renew its contract with Vigor to operate the Ketchikan Shipyard beyond November 2025. Vigor had managed this state-owned yard since acquiring Alaska Ship & Drydock in 2012.
By June 2025, Vigor Industrial merged with four other Titan-owned entities—Continental Maritime of San Diego, MHI Ship Repair and Services, Seaward Marine Services, and Accurate Marine Environmental—to establish the Vigor Marine Group. This new group maintained its headquarters in Portland.
Corporate structure
By 2025, Vigor Marine Group's organization is divided into three primary divisions: Maintenance & Modernization, which specializes in vessel repair and upkeep; Marine Services, dedicated to cleaning and wastewater management; and Marine Fabrication, tasked with constructing new ships.
Shipyards
| Location | Coordinates | Area | Drydocks | Piers | Cranes |
|---|---|---|---|---|---|
| Seattle, Washington | 47°35′06″N 122°21′18″W / 47.585°N 122.355°W | 27 acres | 3 | 4 | 12 |
| Portland, Oregon | 45°33′54″N 122°43′16″W / 45.565°N 122.721°W | 60 acres | 3 | 12 | 13 |
| San Diego, California | 32°41′42″N 117°08′51″W / 32.695°N 117.1475°W | 31 acres (14 acres land, 17 acres waterfront) | 0 | 2 | 4 |
| Norfolk, Virginia | 36°51′50″N 76°18′32″W / 36.864°N 76.309°W | 33 acres (20 acres land, 13 acres waterfront) | 0 | 1 | 5 |
Additional facilities
| Location | Coordinates | Area |
|---|---|---|
| Vancouver, Washington | 45°36′58″N 122°37′35″W / 45.6162°N 122.6263°W | 7 acres |
| Portsmouth, Virginia | 36°48′02″N 76°17′46″W / 36.8005°N 76.2962°W | 4.5 acres |
Constructed vessels
Vigor has delivered a wide assortment of marine vessels such as barges, tugboats, fishing boats, pilot vessels, crew boats, ferries, and naval ships. These projects highlight the company’s extensive expertise in marine fabrication and its strategic positioning within the industry.
Military vessels
The company has produced several craft for the U.S. armed forces, including the Combatant Craft Medium, Combatant Craft Heavy, and the Maneuver Support Vessel (Light) (MSV(L)). Significant projects comprise:
- Sea Hunter, an autonomous unmanned surface vessel
- , the first ship in the MSV(L) series
Ferries
After acquiring Todd Pacific’s Seattle shipyard, Vigor completed multiple ferries for Washington State Ferries:
At the Ketchikan shipyard, obtained from Alaska Ship and Drydock, Vigor constructed:
- for the Alaska Marine Highway System
Barges
Through its subsidiary U.S. Barge, Vigor built:
- Left Coast Lifter, a specialized crane barge
Other projects
- OE buoy, a device designed to harness wave energy