DALLAS--(BUSINESS WIRE)--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 Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, Generational Consulting Group, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With more than 350 professionals located throughout 16 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.
The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit https://www.genequityco.com/ or the Generational Equity press room.