Caltius Structured Capital closed a debt and equity investment in Chula Vista-based Marine Group Boat Works (MGBW). The financing was used to support the buyout by co-founder and president Todd Roberts, who has joined forces with entrepreneurs Chip Besse, a MGBW customer with successful investments in multiple industries, and Skye Callantine, principal of investment firm Vigeo Investments. Besse will serve as chairman of the board while Roberts will continue to actively lead the company in his new role as CEO, with a greater focus on growth and expansion plans.
Together, Caltius, Vigeo Investments, Besse and MGBW’s leadership team seek to build on the company’s reputation for excellence by further developing its brand; security and functionality of the Chula Vista shipyard entrance (adjacent to the new Gaylord Pacific Resort); greater engagement with the superyacht industry; expansion of its Navy repair capabilities; and growth of MGBW’s construction division in support of the revival of California boatbuilding and U.S. manufacturing.
“My team and I have a bold vision for expanding the MGBW brand and pursuing new market segments, and our new partners share our vision,” Roberts said. “This investment represents an incredible opportunity for us to make our vision a reality. With the resources that they bring to the table, the sky is really the limit for us now.”
“The Caltius team impressed us with their due diligence and patience prior to investing,” Steven Folse, managing director at Vigeo Investments said. “They visited our location and quickly figured out the drivers of our business. Their partnership and flexible capital structure align well with the company’s long term growth strategy.”
“We are excited to partner with Todd and his leadership team,” Alisa Frederick, managing director at Caltius Structured Capital, said. “We’ve been impressed by the company’s strong historical growth and the team’s compelling vision for the future. Chip and Steven bring deep expertise in building and scaling businesses, and they are fully committed to expanding the MGBW brand and exploring new market opportunities. We look forward to supporting MGBW and Todd in this next chapter.”
