Northrop Grumman's shipbuilding unit is on the block, with five private equity underwriters (PEU's) inspecting the hull. Four household PEU's, The Carlyle Group, Bain Capital, KKR & TPG, join mystery firm Cleveland Ship LLC in pursuit of the nuclear sub builder.
Future growth is expected from the Navy's new, double-hulled oil tanker. Northrop might cash out at the top, normally a PEU strategy. Time will tell if that's true, as well as which PEU wins the shipbuilding bomb.
Also, future conflicts or texting captains could drive refurbishing business.
