US-based marine defence provider Fairbanks Morse Defense (FMD) has purchased Federal Equipment Company (FEC) for an undisclosed amount.
The addition of FEC will strengthen the product capabilities and service solutions offered by FMD and position it as an integrated defence contractor and turnkey solutions provider.
FEC was established in 1982 and is headquartered on its campus near Cincinnati, Ohio.
With 145 employees, it has two facilities covering a total area of 100,000ft². FEC is increasing its production capacity and capabilities with a new 50,000ft² facility.
The facility is currently under construction and is anticipated to open in mid-2022.
FMD CEO George Whittier said: “Fairbanks Morse Defense is committed to the values that define us as a leading defence contractor. The capabilities, experience, and quality reputation that we’re acquiring with FEC reinforce this commitment and solidify our position as a proven, single-source provider to our naval customers.
“Both FEC and Fairbanks Morse Defense have highly experienced teams who understand the critical role that our customers play in protecting the nation, and they are all dedicated to delivering the highest quality service in support of that mission. Combining our knowledge and capabilities makes us a powerful asset for the defence industry.”
As per the terms of the transaction, FMD will take over FEC Military and FEC’s commercial business.
FEC Military designs and produces mission-critical components and systems for the US Navy and US Coast Guard.
FMD completed several acquisitions last year, including Welin Lambie, Hunt Valve Company, and Ward Leonard.
