Investment Management News

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has acquired AMMCON Corp., a Jacksonville- based fittings and assembled components manufacturer. The defense contractor’s acquisition continues its expansion and commitment to providing critical components to the U.S. Navy and other marine defense customers.“Fairbanks Morse Defense is working to build fully integrated products and services that will meet every need of maritime defense…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), announced it has been awarded a purchase order to provide motor-operated valves (MOVs) through Hunt Valve for the U.S. Coast Guard’s (USCG) Polar Sentinel (WMSP-21). The cutter is the first of three multi-mission vessels that will comprise the Polar Security Cutter program, which is intended to supplement the USCG’s missions in the Arctic as well as Operation Deep Freeze in the Antarctic.“Every ship has a crucial role to play in advancing American interests at sea…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has acquired single-source metalworking supplier Samtan Engineering Corporation based in Malden, Mass. Samtan’s metalworking services expand FMD’s portfolio with shearing, punching, forming, machining, fabrication and assembly capabilities.“Our acquisition of Samtan Engineering Corporation allows Fairbanks Morse Defense to continue delivering value far beyond the cost of our services through the seamless integration of metal-stamped products and machine shop services,” said FMD CEO George Whittier.

Defense contractor Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has acquired American Fan, a axial and centrifugal fan manufacturer based in Fairfield, Ohio.“Now more than ever, Fairbanks Morse Defense remains committed to expanding our growing array of OEM equipment to ensure that our fleet is always mission-ready,” said George Whittier, FMD CEO. “American Fan has a long track record of delivering high-quality products to the U.S.

Morgan Stanley's infrastructure investment arm is teaming up with U.S. maritime, energy and logistics solutions company Crowley to advance offshore wind energy solutions for the United States.Investment funds managed by Morgan Stanley Infrastructure Partners (MSIP), a private infrastructure fund platform within Morgan Stanley Investment Management (MSIM), will hold a majority stake in Crowley Wind Services Holdings, a joint venture combining Crowley's end-to-end maritime and logistics capabilities with the financial strength and expertise of Morgan Stanley.

The installation of rotor sails on board a 82,000 dwt Kamsarmax bulk carrier is expected to generate a 10% reduction in fuel burn and emissions.The TR Lady was retrofitted with three 5×24m rotor sails from Anemoi Marine Technologies at China's Chengxi Shipyard in June 2023. The ship is owned by TR Lady Shipping, a portfolio company of Tufton Investment Management, and is on a time charter with Cargill.The technology was installed on Anemoi’s patented transverse rail deployment system…

With a lame-duck CNO, a divided Congress and the impending launch of the next Presidential election cycle, America’s naval market is locked into something of a fragile and fearful autopilot, cruising inexorably towards whatever excitement 2024 might bring.Materially, don’t expect much change: The demand for naval platforms will continue to outstrip available funding, meaning there will be little movement or growth in America’s major shipbuilding programs of record. The procurement outlines are already set.

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has been awarded a purchase order by Newport News Shipbuilding to supply four davits through Welin Lambie for the Ford Class aircraft carriers CVN 80 and CVN 81 (two davits per vessel). The award follows the supply of davits for CVN 78, which just entered service, and CVN 79, which is currently under construction. “This contract reinforces FMD’s position as a critical supplier to its core naval defense customers,” said Jay McFadyen, FMD’s Chief Commercial Officer.

Fairbanks Morse Defense (FMD) announced it has been contracted to provide and test one nForcer high-speed engine to qualify for the Navy’s large unmanned surface vessel (LUSV) platform. To qualify, the engine must perform for a minimum of 720 hours in a land-based test environment without human intervention. Testing will begin in Q3 2023.“The LUSV platform has unprecedented power and propulsion requirements, which means that the Navy needs a power-dense engine with a reliable track record,” said FMD CEO George Whittier.

Finnish auxiliary wind propulsion company Norsepower announced it has secured €28 million in its latest Series C fundraising round, enabling the company to scale up production and expand the reach of its fuel-saving and emissions-reducing technology.French asset manager Mirova, an affiliate of Natixis Investment Management dedicated to sustainable investment, led the fundraising through its impact private equity Mirova Environment Acceleration Capital fund. Additional participants in the round included TheFinnish Climate Fund (Ilmastorahasto)…

Fairbanks Morse Defense (FMD) on Thursday announced it has been awarded a contract from shipbuilder Austal USA to supply a range of equipment to support the construction of WMSM-919, the U.S. Coast Guard’s next Heritage-class Offshore Patrol Cutter (OPC).FMD, which has been expanding its offering as single-source maritime defense contractor, said its cross-company package for WMSM-919 includes two main propulsion diesel engines through Fairbanks Morse Defense, a hangar door and stores elevator through Federal Equipment Company (FEC)…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, introduces the Novo1 motor line by Ward Leonard, the newest AC induction motor line for naval vessels.Described by the manufacturer as "durable" and "reliable", the Novo1 motor line is modular in design, has a commonality of parts, and has a variety of mounting configurations, speeds, and enclosure types available to meet any shipboard requirements. It is manufactured in FMD's vertically integrated facility in Thomaston, Conn.

Power and propulsion systems provider Fairbanks Morse Defense (FMD) announced it has been awarded a five-year indefinite-delivery/indefinite-quantity (IDIQ) requirements contract by the U.S. Navy that makes the Beloit, Wis.-based company the sole source for engineering and technical support of the main propulsion diesel engines on the Navy’s Freedom-class Littoral Combat Ship (LCS) program.FMD said it will provide global maintenance and repair services and OEM parts to improve engine performance and increase operational availability.

Fairbanks Morse Defense (FMD) is expanding its naval defense capabilities by offering the nForcer FM 175D engine, the defense contractor's first engine designed for high-speed applications. With more power density than competing high-speed engines in the maritime defense marketplace, the nForcer FM 175D is best suited to support the substantial power and propulsion needs of the Navy's unmanned programs."The Navy's future fleet will be electric, and the power requirements for each…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has been awarded a purchase order by Huntington Ingalls Industries to build and deliver four main propulsion diesel engines featuring common rail technology to power the U.S. Navy’s newest Landing Platform/Dock (LPD) ship, LPD 32.According to FMD, its common rail system technology maximizes performance through enhanced fuel efficiency and reduced carbon emissions.“For many decades, the…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), is expanding its capabilities to serve unmanned marine vehicles (UXV) through a licensing agreement with DECK Marine Systems (DECK), a developer of systems to deploy and recover vessels and sensors. Through the agreement, FMD and DECK will co-develop an intelligent launch and recovery system (LARS) for use with UXVs, and FMD will have an exclusive license to sell and service DECK’s LARS…

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, is launching a 45,000-square-foot training and service center campus in Chesapeake, Va. The defense contractor will move its existing service center from Norfolk, Va., to the Chesapeake campus to add a state-of-the-art training facility and further expand advanced service support for its customers. The move represents a $13 million investment in the community.“We are excited to have Fairbanks Morse Defense as the newest member of our business community,” said Rick West, Mayor of Chesapeake.

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, said it has been awarded a contract by Newport News Shipbuilding (NNS) to provide essential parts through Hunt Valve for the Ford Class aircraft carriers CVN 78 – CVN 81.Hunt Valve, acquired by Fairbanks Morse Defense in 2021, manufactures valves and electromechanical actuators for naval defense applications. The contract, valued at approximately $2 million, covers parts that will be delivered during the second and third quarters of 2022.

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has acquired Maxim Watermakers, a privately-owned provider of desalination and water treatment technologies for marine defense applications based in Shreveport, La. The company’s water treatments systems, which provide life-sustaining water for crews during ship deployments, position Maxim as an essential addition for FMD to provide turnkey onboard solutions and global technical support that ensure crews are always mission ready.“What we do is critically important to the safety of our nation and the world…

U.S.-based marine defense provider Fairbanks Morse Defense (FMD) has acquired Welin Lambie, a U.K.-based manufacturer of davits used specifically for the launch and recovery of all types of craft from ships or shore-based installations.The acquisition further expands FMD’s capabilities and service solutions for shipyard, defense and commercial marine customers, including the U.S. Navy, the U.S. Coast Guard, and the Canadian Coast Guard. Additionally, FMD’s acquisition of Welin Lambie enhances its product and service offerings for future uncrewed ship programs…

Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel.In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the dry bulk industry told Reuters they were either reducing their exposure to vessels that…

Offshore wind vessel company Edda Wind, owned by Wilhelmsen and Østensjø, on Monday announced plan to launch an offering of shares in the company and to apply for a listing on the Oslo Stock Exchange (the “IPO”).Based in Haugesund, Norway, Edda Wind develops, builds, owns, and operates purpose-built Service Operation Vessels (“SOV”) and Commissioning Service Operation Vessels (“CSOV”) for offshore wind farms.The company owns and operates two purpose-built offshore wind SOVs and…

Power and propulsion solutions company Fairbanks Morse Defense (FMD) announced that Robert Starr is joining the executive team as chief financial officer. In this role, he will lead the corporate finance team and oversee all financial reporting for the company.“Rob’s background working with commercial and military customers makes him a great fit for the Fairbanks Morse Defense team,” said George Whittier, CEO of FMD, an Arcline Investment Management portfolio company. “His ability…