Fairbanks Morse Defense (FMD) this week acquired Federal Equipment Company in a deal that expands and diversifies its turnkey service solutions and product offerings for Navy and Coast Guard customers.
Terms of the deal were not disclosed. The acquisition includes FEC’s military and commercial businesses, although most of the company’s work is for the Navy. FMD, which is based in Wisconsin, said the acquisition in particular expands its work for the U.S. Navy in the nuclear area.
FEC, which is based in Ohio and has 145 employees, provides cargo elevators, retractable helicopter hangar systems, engineered doors and specialized material handling equipment to its customers. The company also has offices in Virginia and the United Kingdom.
The products and services FEC offer are new to FMD.
“Fairbanks Morse Defense is committed to the values that define us as a leading defense contractor,” George Whittier, FMD’s CEO, said in a statement. “The capabilities, experience, and quality reputation that we’re acquiring with FEC reinforce this commitment and solidify our position as a proven, single-source provider to our naval customers.”
In the past 14 months, FMD has acquired several smaller companies to expand the company’s product and service offerings. FMD is better known for designing and manufacturing ship engines.
The recent acquisitions include Fluid Filtration Specialists, Welin Lambie, a United Kingdom-based manufacturer of davits used in shipyards and on ships, Hunt Valve, a naval valve manufacturer, Ward Leonard, a provider of motor and control solutions, and BRECO International, which does diesel engine repair and rebuilding.
FMD is a portfolio company of Arcline Investment Management