Vigor Marine Group to Sell Complex Fabrication Division to Precision Build Integration
Precision Build agrees to acquire Clackamas-based Oregon Ironworks as VMG doubles down on marine focus
“As Vigor Marine Group doubles down on being a nationwide leader in the maritime sector, we are grateful to have found a home for our complex fabrication business in Precision Build,” said VMG CEO Francesco Valente. “We have been proud to serve our many customers since merging with OIW more than a decade ago, and now look forward to continuing our growth as a key solutions provider for the U.S. Navy, MSC, and our other valued customers.”
Since becoming part of Vigor in 2014, the complex fabrication division has completed some of the largest, most complex steel fabrication projects in the U.S. These included steel bridge structures from Oregon to New Jersey, energy infrastructure and multiple defense programs. This work has additionally supported hundreds of family wage jobs in the Greater Portland area.
Precision Build Integration is part of a larger family of companies and boasts a similar capability of complex structural steel fabrication, including bridges, modular construction, cranes and complex steel buildings
“Precision Build and Hilton Tool are excited to expand our fabrication and machining capabilities in Clackamas, Oregon to better serve our customers,” said Corey Yraguen, CEO of Precision Build Integration and President of Precision Build Companies. “Vigor has been collaborative in working with our team to build on the success of previous projects and create new job opportunities in this community going forward.”
The transaction is expected to be completed by December 31st, 2025.
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About Vigor Marine Group
Vigor Marine Group is a values-driven, established, differentiated, integrated partner with a national footprint in marine maintenance and modernization, marine fabrication, and marine services. With operations in six locations, the family of companies employs 2,500 people in the Pacific Northwest, Virginia, California and Alaska. Our spirit of innovation and legacy of performance make Vigor Marine Group a preferred, full-service prime contractor in the defense and maritime sectors, offering advanced services and complete solutions for the U.S. Navy, U.S. Army, Military Sealift Command, state ferry systems, the cruise industry, the commercial fishing industry, and more. With deep respect for people and the planet, Vigor Marine Group strives to be a positive, regenerative force for good – environmentally, in the lives of its employees and in the community. For more information, visit vigormarine.comOpens in a new tab.
Precision Build Integration (PBI) specializes in the Nuclear, Aerospace, Defense and other complex fabrication and machining industries.PBI owns Hilton Tool, which specializes in CNC Machine Shop and Contract Manufacturing.PBI is privately owned with the largest members being Precision Build Companies and M2 Integration.Precision Build is a family of companies that provide tank storage, fabricated structural steel, and service solutions for domestic and international markets as Precision Tank, Precision Build Solutions, Tampa Tank, Florida Structural Steel, and Tampa Steel Erecting.M2 Integration provides construction services for aerospace, defense, commercial, and industrial sectors. Each of the companies creates projects to exacting, precise specifications and tolerances. For more information, visit https://precisionbuild.com/ and https://www.m2integration.net/
Benton Strong,
Director, Public Affairs