Fairbanks Morse Defense (FMD) on Tuesday said it has acquired AMMCON Corp., a small manufacturer of fittings and assembled components for Navy submarines and ships, a deal that expands FMD’s turnkey solutions.
Terms of the deal were not disclosed. AMMCON, which is based in Jacksonville, Fla., has 37 employees.
AMMCON’s products are used on the Virginia and Columbia-class submarines,
Ford-class aircraft carriers, Coast Guard vessels, and by the Military Sealift Command. Fittings are a new addition to FMD’s product portfolio and the acquisition expands the company’s contents on the two submarine programs.
FMD also said that AMMCOM gives it the infrastructure to produce fittings using additive manufacturing, which will allow the company to increase its ability to produce fittings and other components over the next few years.
The acquisition is the 11th by FMD since December 2020 to build out its turnkey solutions for the maritime defense industry. The Wisconsin-based company’s legacy is in engine and other power systems for the Navy and other customers.
“Fairbanks Morse Defense is working to build fully integrated products and services that will meet every need of maritime defense, and to accomplish this, we must continue to identify cutting-edge providers who share our commitment to serving as a defense contractor of the first rank,” George Whittier, CEO of FMD, said in a statement.
The acquisition also grows FMD’s footprint in Jacksonville, where it already has a service center.
FMD is a portfolio company of Arcline Investment Management. AMMCON was owned by Darrel Grow, who will step down as president and serve as a strategic adviser to FMD. No financial advisers were used on the transaction.