BAE To Buy U.S. Ship Repair Yards

A British defense firm was agreed to buy most of a privately held naval support services firm in the U.S.

BAE Systems on Tuesday announced the acquisition of naval maintenance and repair company Atlantic Marine for $352 million from private equity company J.F. Lehman.

Under the terms of the purchase, BAE will get Atlantic Marine operations in Mayport and Jacksonville, Fla.; Moss Point, Miss.; and Mobile, Ala., while Lehman will keep facilities in Boston and Philadelphia. ...