US-based Signal International has acquired Bender Shipbuilding & Repair for $31.2m through a bankruptcy auction in the US.
The asset purchase includes 3,300ft of deepwater frontage, three steel floating dry docks, six repair/construction yards and other equipment.
Following court approval at the end of this month, the new company will begin operations as Signal Ship Repair, focusing on vessel overhaul and repair, Signal said.
The US marine service provider said it is planning to make an additional investment of nearly $5m on upgrades and repairs.
Signal recently invested over $33.5m in its flow manufacturing and heavy fabrication facility in Orange, Texas.