Wildcat Defense said on 21 October 2026 that it had entered into an exclusive agreement to acquire Fraser Industries, the parent of Fraser Shipyards in Superior, Wisconsin.
Why Wildcat Defense (Wildcat Equity Partners) is buying Fraser Industries (Fraser Shipyards)
Wildcat said the investment comes as the US seeks to modernise shipyard infrastructure, an industry it described as critical to national security.
“Wildcat's partnership with Fraser Industries comes at a time when the U.S. is looking to modernize infrastructure at U.S. shipyards, an industry that is critical to national security.”
Deal terms and financing
Terms were not disclosed. Wildcat plans to invest US$350m in the yard, and chief executive Patrick Kelly will remain in place.
Regulatory approvals and timing
Closing is expected in about three months.
Market context
Fraser Industries also owns Lake Assault Boats, Northern Engineering and Fraser Terminal, and is partnered with Fincantieri and Donjon in bidding for the US Coast Guard's light icebreaker programme. Wildcat has also made an offer for Austal USA.
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