Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! ExecutiveBiz provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later
George Whittier CEO Fairbanks Morse

George Whittier: Fairbanks Morse Eyes Military Ship Aftermarket Expansion Through Ward Leonard Acquisition

Fairbanks Morse has purchased naval motor and control technology provider Ward Leonard Operating for an undisclosed sum to expand power generation equipment and aftermarket service offerings in the military sector.

Connecticut-based Ward Leonard will continue to operate under its current name and the acquisition does not include affiliated locations in Louisiana and Texas, Fairbanks Morse said Tuesday.

George Whittier, CEO of Fairbanks Morse, said he expects the deal to build the company's status as a power systems integrator for the U.S. Navy and Coast Guard.

Whittier added that both companies have complementary systems and installed bases across multiple ship classes.

UBS Investment Bank acted as financial adviser to Fairbanks Morse and its private equity owner Arcline Investment Management on the transaction.

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles