Fox Three Partners Acquires Walashek Industrial & Marine
Fox Three Partners, LLC, a private investment company focused on the lower middle market, announced today the acquisition of Walashek Industrial & Marine, Inc. Fox Three partnered with WIM management, Frank and Paula Walashek, in the purchase. Founded in 1986 by Frank Walashek, WIM provides a full range of mobile ship repair services including welding, piping, machinery and structural repair, marine propulsion repair and auxiliary boiler repair.
Taylor Grant, Founder & Managing Partner at Fox Three said:
"For 30 years, Walashek Industrial & Marine has been providing its customers with the highest quality service. We look forward to continuing this legacy and are proud to be associated with the outstanding team at WIM. WIM headquarters, currently in Seattle, WA, will be moved to Norfolk, VA where the Company currently manages one of its branches. WIM is a great example of the caliber of companies we have here in Hampton Roads."
Frank Walashek, formerly the Norfolk branch manager and now CEO of WIM commented:
"It was important to find a partner who could understand our culture, strategy and potential. Fox Three showed they understand how smaller companies like WIM operate. We are looking forward to continuing to build our relationship with Fox Three and leveraging their capabilities to help WIM achieve its potential."
Paula Walashek, now Vice President of WIM added:
"We are excited about the partnership with Fox Three, and are going to continue to refine the company as we focus on increased growth with our current and new customers. The traditions of first class service will remain central to WIM's success in the marketplace."