Author: Jane Edwards|| Date Published: March 27, 2024
Fairbanks Morse Defense, a portfolio company of private equity firm Arcline Investment Management, has purchased AMMCON as part of efforts to expand the delivery of critical components and turnkey services to the U.S. Navy, Coast Guard, Military Sealift Command and other marine defense customers.
AMMCON is a Jacksonville, Florida-based provider of critical fittings and assembled components for Columbia-class and Virginia-class submarines and the Ford-class aircraft carrier program, FMD said Tuesday.
“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,” said FMD CEO George Whittier.
“Working together, we are delivering value far beyond the cost of our services and, in the process, ensuring our marine fleets are always mission ready,” Whittier added.
The transaction is FMD’s 11th acquisition since the company started its expansion efforts in December 2020.
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