Newly Merged Drew Marine and ACR under New Ownership

MarineLink.com
Wednesday, November 20, 2013

Drew Marine announced it is merging with ACR Electronics, Inc., a global provider of safety products and solutions to the aviation, marine, military and commercial markets worldwide. ACR’s core products include life-saving devices such as rescue beacons, safety lights, and other safety equipment which have been sold for decades under the ACR and Artex brands.

Drew Marine is a global provider of technical solutions and services to the maritime and offshore industries specializing in fire, safety and rescue (FSR), water treatment, maintenance chemicals, fuel management and welding and refrigeration products.

“The addition of ACR to Drew Marine is part of our strategy to expand our offerings in the safety and rescue markets,” said Len Gelosa, Drew Marine President and CEO. “ACR products, combined with our Pains Wessex and Comet pyrotechnic signals, provide a complete solution to rescue signaling. The ACR and ARTEX brands – like the Drew Marine, Pains Wessex, Comet, Aurora and Alexander / Ryan brands – are known for world class quality, state of the art technology and unsurpassed reliability.”

Headquartered in Whippany, N.J., Drew Marine serves global customers in nearly 100 countries around the world. ACR’s operations are headquartered in Fort Lauderdale, Fla., where they will remain.

The merger is taking place concurrently with the sale of both Drew Marine and ACR to The Jordan Company. The Jordan Company, founded in 1982, is a leading middle-market private equity firm with approximately $6 billion of capital under management and a successful track record of investing in and growing businesses across a wide range of industries, headquartered in New York with offices in Chicago and Shanghai.

drew-marine.com

acrartex.com

thejordancompany.com
 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

Marine Equipment

Van Oord acquires 100% control of Dravo

Van Oord has acquired all shares of its Spanish subsidiary Dravo S.A.  Dravo S.A. has been owned, since 1987, by Van Oord (50%) and the Spanish company Dragados S.

ClassNK Approves Fillet Welding Consumable

Classification society ClassNK announced that it has granted type approval for the new MX-200F welding consumable, developed by Kobe Steel Co., Ltd. (KOBELCO) to

GE Gas Turbines Power USS America

GE Marine reports that the United States Navy’s future USS America (LHA 6) amphibious assault ship recently completed successful acceptance sea trials powered by two GE LM2500+ marine gas turbines.

Maritime Safety

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Stranded Virginia Beach Bulker Salvage Plan Set

The Coast Guard advises it is in the final stages of reviewing a salvage plan that is scheduled to begin Friday morning to move the 751-foot bulk carrier, 'Ornak',

Canaveral Tops State List for Sand Bypass Funding

The Canaveral Harbor Inlet Sand Bypass Project has earned the top state ranking for 2014/15 inlet management funding. As a result, Port Canaveral is expected to receive $100,

Mergers & Acquisitions

PetroVietNam Gas's Q1 gross profit falls 27.5%

PetroVietNam Gas's first-quarter gross profit fell 27.5 percent to 3.9 trillion dong ($185 million) from a year earlier, the Lao Dong (Labour) newspaper reported.

Inchcape Shipping Services Opens in Venezuela

Inchcape Shipping Services (ISS), the world’s leading maritime services provider, has expanded its network in Central and South America with the opening of ISS Venezuela in Puerto La Cruz,

Van Oord acquires 100% control of Dravo

Van Oord has acquired all shares of its Spanish subsidiary Dravo S.A.  Dravo S.A. has been owned, since 1987, by Van Oord (50%) and the Spanish company Dragados S.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1031 sec (10 req/sec)