US-based shipbuilder Metal Shark has purchased the assets of Horizon Shipbuilding after receiving approval from the US Bankruptcy Court Southern District of Alabama.

Metal Shark has taken ownership of a 35-acre shipbuilding facility in the Mobile Bay region, Alabama, with separate east and west yards both fronting a dredged deepwater inlet.

The shipbuilding facility is equipped with nine assembly buildings, a 660t Travelift, multiple cranes, CNC plasma cutters, welders, as well as other capabilities required to build steel and aluminium vessels with a maximum 300in length and 1,500t launch weight.

Using this facility, Metal Shark will concentrate on the design and construction of custom steel vessels, as well as the refit, repair, and conversion of current vessels.

Metal Shark CEO Chris Allard said: “This acquisition will dramatically expand Metal Shark, as we add an impressive Alabama facility to our growing portfolio of shipyards and leverage Horizon’s expertise in the construction of steel vessels.

“As we add steel vessels to our already-broad range of aluminium craft, we will offer everything from a 16ft aluminium skiff to steel vessels up to 300in, and virtually everything in between, making the diversity of Metal Shark’s portfolio truly unmatched in the industry.

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“This acquisition will dramatically expand Metal Shark, as we add an impressive Alabama facility to our growing portfolio of shipyards.”

“Our Alabama yard’s complete refit and repair services will appeal to customers throughout the Gulf, and also those in the South Florida and Caribbean yachting community.

“These clients will benefit from an accessible and modern facility with some of the most competitive labour rates in the nation.”

Horizon filed for bankruptcy protection under Chapter 11 in October and has operated under its CEO Travis Short since then.

Short will join Metal Shark in the position of executive vice-president.