US naval supplier Fairbanks Morse Defense (FMD) has expanded its offering by acquiring Federal Equipment Company (FEC), which makes cargo elevators, hangar doors, and other equipment for military ships, FMD announced on 5 January.
The acquisition is the latest in a series by FMD, which has sought to diversify its portfolio beyond naval engines since it was purchased by US private equity firm Arcline Investment Management in 2020. FMD has acquired naval motor provider Ward Leonard, naval valve manufacturer Hunt Valve Company, boat launch and recovery equipment business Welin Lambie Ltd, and ship maintenance firm Fluid Filtration Specialists, LLC.
βThe FEC acquisition adds extensive capabilities to FMD, solidifying Fairbanks Morse Defense's position as an integrated defence contractor and turnkey solutions provider to the US Navy and US Coast Guard,β FMD said.
FEC co-developed the Advanced Weapons Elevator (AWE) for the US Navy's new Ford-class aircraft carrier. The AWE has faced technological challenges but is expected to ultimately accelerate the movement of weapons.
Founded in 1982, FEC employs about 145 people and is based near Cincinnati, Ohio, where it has two facilities totalling 100,000 sq ft (9,290 m 2 ). To increase its manufacturing capacity, the company has begun building a 50,000 sq ft facility, which it expects to open in mid-2022.
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