Fairbanks Morse Defense, a subsidiary of Arcline Investment Management, is an American manufacturer of engines and other products. Established in 2020, it is one of three separate corporate entities that can trace its roots to Fairbanks-Morse, an American manufacturing company that operated independently from 1823 to 1958. The company's structure includes Fairbanks Morse Services, Fairbanks Morse Technology, and FMD's Strategic Collaborators.
The company has supplied marine technologies, engines, details, and more to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. As of 2024, Fairbanks Morse Defense products power more than 80% of the United States Navy ships with medium-speed engines.[citation needed]
History
editThe company derives from Thaddeus Fairbanks' 1823 founding of an ironworks in St. Johnsbury, Vermont.[1] The company grew and operated independently until it was acquired by Penn-Texas Corporation in 1958. The conglomerate first renamed itself Fairbanks Whitney Corporation, then Colt Industries in 1964, taking the name from Colt Manufacturing, the maker of firearms and another asset of Penn-Texas. In 1990, Colt Industries sold its firearms business (to C.F. Holdings Corp as Colt's Manufacturing Company, Inc.) and became Coltec Industries. In 2002, Fairbanks Morse was spun off in a grouping named EnPro Industries, which on January 21, 2020, sold Fairbanks Morse to Arcline Investment Management.[2]
Arcline named its new subsidiary Fairbanks Morse Defense[3], signaling its intention to pursue defense-sector sales.[4]
In 2021, the company acquired Ward Leonard,[5] Welin Lambie,[6] and Hunt Valve,[7] thus creating the Fairbanks Morse Defense family of brands. The expansion continued in 2022 with the addition of Federal Equipment Company,[8] Maxim Watermakers,[9] and Research Tool and Die (RT&D).[10]
In October, Fairbanks Morse Defense acquired American Fan,[11] and in 2024, the company purchased Massachusetts-based metalworking supplier Samtan Engineering Corporation.[12]
External links
editReferences
edit- ^ LIFE. Time Inc. 1944-07-10.
- ^ "EnPro Industries Announces Successful Completion of Fairbanks Morse Sale for $450 Million in Cash". NASDAQ. 21 January 2020.
- ^ "Enpro Industries Announces Successful Completion of Fairbanks Morse Sale for $450 Million in Cash". 21 January 2020.
- ^ Wolf, Clint (2021-04-27). "Fairbanks Morse Defense is now name of local company". Beloit Daily News. Retrieved 2024-03-25.
- ^ Biesecker, Cal (2021-01-06). "Naval Engine Maker Fairbanks Morse Acquires Aftermarket Services Company Ward Leonard". Defense Daily. Retrieved 2024-03-25.
- ^ "Fairbanks Morse Defense buys naval supplier Welin Lambie". Janes.com. Retrieved 2024-03-25.
- ^ "Hunt Valve Awarded PO to Deliver Essential Valves for Coast Guard Polar Security Cutter". Yahoo Finance. 2024-01-10. Retrieved 2024-03-25.
- ^ Victor, Nancy (2022-01-06). "Fairbanks Morse Defense acquires Federal Equipment Company". Naval Technology. Retrieved 2024-03-25.
- ^ Team, S. W. M. (2022-01-27). "Fairbanks Morse Defense acquires Maxim Watermakers". Smart Water Magazine. Retrieved 2024-03-25.
- ^ Sharma, Soumya (2022-06-03). "Fairbanks Morse Defense acquires California-based Research Tool & Die". Naval Technology. Retrieved 2024-03-25.
- ^ Staff, Marine Log (2023-10-30). "Fairbanks Morse Defense acquires American Fan". Marine Log. Retrieved 2024-03-25.
- ^ Prevljak, Naida Hakirevic (2024-01-04). "Fairbanks Morse acquires metalworking supplier". Naval Today. Retrieved 2024-03-25.