buyout · Industrial services
Keelcraft Marine Systems
Drydock and vessel repair for the Atlantic fleet.
- Fund
- Pelham Buyout Fund II
- Strategy
- Buyout
- Employees
- 410
- Revenue (illustrative)
- $142M
Investment thesis
Keelcraft operated two drydocks on the Atlantic coast serving the fishing, defense, and offshore wind fleets. Pelham supported the build-out of a third dock and the company was sold to a strategic buyer at a 2.4x multiple of invested capital.
“Pelham brought the third drydock across the line. That expansion is what made the company worth what it sold for.”
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