Fox Three Partners, LLC, a private investment company has acquired Walashek Industrial & Marine, Inc.
Fox Three partnered with WIM management, Frank and Paula Walashek, in the purchase.
Founded in 1986 by Frank Walashek, WIM is the leading provider of services to marine propulsion boilers in the United States. In addition, the company provides a full range of mobile ship repair services including welding, piping, machinery and structural repair, marine propulsion repair and auxiliary boiler repair.
“WIM headquarters, currently in Seattle, WA, will be moved to Norfolk, VA where the company currently manages one of its branches,” said Taylor Grant, founder & managing partner at Fox Three.
WIM also has operational facilities in Portland, San Francisco, San Diego, Jacksonville and Mobile.
“It was important to find a partner who could understand our culture, strategy and potential,” said Frank Walashek, formerly the Norfolk branch manager and now CEO of WIM. “We are looking forward to continuing to build our relationship with Fox Three and leveraging their capabilities to help WIM achieve its potential.”
Joel Nied, Esq. represented the acquirer.