Banking Investment Services News

Arcline Investment Management to Acquire Fairbanks Morse, an EnPro Industries Company

Arcline Investment Management to Acquire Fairbanks Morse, an EnPro Industries Company

Arcline Investment Management (“Arcline”), a growth oriented private equity firm with $1.5 billion of capital under management, announced that it has signed a definitive agreement to acquire Fairbanks Morse (“the Company”), an EnPro Industries company , for $450 million.

Fairbanks Morse develops and manufactures heavy-duty, medium-speed reciprocating engines under the Fairbanks Morse and ALCO brand names, which are used primarily in marine and power generation applications. The Company has been the original equipment manufacturer of its engines for more than 120 years and has a large installed base for which it supplies aftermarket parts and services. Fairbanks Morse is the principal supplier of diesel engines to the US Navy, US Coast Guard and Canadian Coast Guard, with all manufacturing conducted in the Company’s U.S.-based facility in Beloit, Wisconsin, and parts and services delivered through its network of five service centers strategically located in the US and Canada.

Read More :Payrailz Promotes Song Nunnallee to VP of Implementation

Arcline commented, “We are proud to invest in a company that is critical to our national interests. Our intent is to build upon and grow Fairbanks Morse’s 120+ year reputation of dependability, reliability and innovation in serving its long-standing customers.”

Harris Williams and Moelis & Company LLC served as financial advisors to Arcline in connection with the acquisition.

Arcline is a private equity firm with $1.5 billion in capital, investing in niche, market-leading companies that we are passionate about growing. We approach investments from multiple perspectives, but share a single vision – to identify and unlock the breakout potential in our companies.

Read More :Montreal Fintech FlexPay Raises $6M from Impression Ventures and BMO Capital Partners

Related posts

Finastra Secures SWIFT Compatible Application label for Trade Finance

Fintech News Desk

Amit Aghara Joins Fintech as Chief Technology Officer

Fintech News Desk

Kyriba Leads Real-Time Liquidity and Payments Surpassing 100 Million API Calls

Business Wire