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Engine manufacturer Fairbanks Morse has announced the acquisition of a manufacturer of engine and control products for military applications.
The Beloit, Wis.-based company said the purchase of Ward Leonard would expand its line of power and propulsion equipment, as well as aftermarket services, for defense vessels. Ward Leonard is a long-time manufacturer of motors, generators and control components for the marine, energy and industrial sectors, including solutions for military surface, underground and land applications.
“Like Fairbanks Morse, Ward Leonard has an installed base in virtually every class of vessel, and we plan to increase its aftermarket parts and service offerings using Fairbanks Morse’s extensive warehouse and field service capabilities. “, George Whittier, CEO of Fairbanks Morse. said in a statement.
Fairbanks Morse, owned by San Francisco investment firm Arcline, manufactures reciprocating engines under its flagship brand and under the Alco brand for the marine and power generation segments. The company claims to be the main supplier of diesel engines to the United States Navy and the United States and Canadian Coast Guards.
The transaction includes the Ward Leonard name – which will be retained by its new owner – and its Connecticut plant, which houses a workforce of approximately 150 employees. Fairbanks Morse will not purchase Ward Leonard affiliate sites in Louisiana and Texas.
Additional details, including financial terms, were not disclosed.
Image credit: Huntington Ingalls Industries.