SUPERIOR, WI – A 
big moment for Fraser Industries, which includes Fraser Shipyards, in Superior. On Wednesday, they hosted an event to share they are being sold to Wildcat Equity Partners. Fraser’s CEO Patrick Kelly shared it also means $350 million in investment here.
“For everyone in this room, all of our employees, it means a more secure job, a bigger job, and opportunities under new ownership that comes with that investment and growth. I’m pleased to report as well our current ownership team is staying on. We’re very much part of this plan going forward. We’re gratified to the Wildcat team that they’re actually investing in our blueprint, and we’re excited to see it come to fruition,” Kelly said.
Eric Nicolaides from Wildcat shared this. “Wildcat is acquiring Fraser because we believe its best years can still be ahead of it. We see an experienced workforce, a respected business, and a capability this country needs more of, not less. We want to invest in it, and we want to help it grow.”
Crews at Fraser work on the big lakers that brings the cargo like iron ore down to the steel mills. Right now, the company has the U.S. Coast Guard Cutter Spar in the drydock facility.
The company announced in August that they have a Memorandum of Understanding with HD Hyundai out of Korea. Fraser will become a demonstration model for rebuilding the U.S. shipbuilding industry.
They also are part of a landmark partnership between the American Great Lakes Ports Association and the Great Lakes Alliance Shipyards. Fraser has been part of the maritime landscape on Lake Superior for more than 130 years.
WDIO
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