We’re thrilled to share that Wildcat Defense has signed an exclusive agreement to acquire Fraser Industries, the parent company of Fraser Shipyards, Lake Assault Boats, Northern Engineering, and Fraser Terminal.
Since 1888, this yard has been building and repairing vessels on the shores of Lake Superior. For more than 130 years, the people of Fraser have kept the Great Lakes fleet moving and delivered for commercial and government customers, including the U.S. Navy and the Department of Homeland Security. That heritage is part of American maritime history.
Here’s what this means:
Wildcat plans to invest $350 million in the yard to grow our workforce and expand our manufacturing footprint.
More investment means more opportunity: new jobs, new skills, and new careers right here in Superior.
Fraser stays American family-owned, with the long-term resources to keep building, repairing, and delivering.
Patrick Kelly and his team will remain in integral roles, so the leadership that got us here will help take us forward.
This moment belongs to our workforce. The welders, fitters, machinists, engineers, and crews who show up every day are why Wildcat Defense wants to partner with Fraser. They recognize the craftsmanship and can-do attitude of a Great Lakes shipyard, and the proven ability of this team to turn a yard around and grow it.
To everyone who has worked these docks, past and present: thank you. You built this reputation, and you’re why the next chapter looks so bright.
To the City of Superior and our Northland community: the best days of this shipyard are ahead of us.
The transaction is expected to close in about three months. We can’t wait to build what’s next.
