Fairbanks Morse Defense (FMD) on Thursday said it has acquired Research Tool & Die (RT&D), a small manufacturer of electrical hardware components used in naval ships, adding to its turnkey services offerings.
Terms of the deal were not disclosed. RT&D is based in California and has about 75 employees, bringing FMD’s total personnel to about 1,200.
RT&D manufactures electrical systems hardware such as wireways, cable trays and racking systems that support cables and wires throughout ships. The company primarily supplies the U.S. and Canadian Navies with these products directly to shipyards.
FMD, which makes naval engines, motors, power systems and a range of marine products such as valves, actuators and water treatment systems, has been building out its product offerings to be a turnkey services provider for its naval and marine customers.
“Over the last few years, FMD has broadened the scope of our product offerings to our valued customers through the acquisition of best-in-class marine manufacturers like Research Tool & Die,” George Whittier, FMD’s CEO, said in a statement.
FMD’s financial adviser on the deal was the investment banking firm PMCF.