FMD to Buy Rolls-Royce’s Naval Propulsors & Handling Business; George Whittier Quoted

Fairbanks Morse Defense, an Arcline Investment Management portfolio company, has agreed to acquire Rolls-Royce’s naval propulsors and handling business to expand its capabilities and offerings for customers in the U.S. marine defense sector.

FMD said Thursday it will integrate into its portfolio a range of propellers and waterjets for naval applications and marine handling systems used to deploy and recover manned and unmanned craft and cargo from naval vessels.

Rolls-Royce’s naval marine propellers are used on the U.S. Navy’s fleet supports, surface combatants, amphibious ships and aircraft carriers as well as on the U.S. Coast Guard’s vessels. The Navy also uses the company’s handling systems on its surface combatants.

The proposed acquisition also includes Rolls-Royce’s marine propeller and water manufacturing campus in Pascagoula, Mississippi, the Walpole, Massachusetts-based facility that produces ship propulsion systems and the handling systems production facility in Ontario, Canada.

“Combining our capabilities allows Fairbanks Morse Defense to substantially increase what we offer to our U.S. maritime defense customers while also offering our systems and components solutions to Rolls-Royce’s global customer base,” said FMD CEO George Whittier.

Jefferies is serving as FMD’s financial adviser in the transaction.

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