Fairbanks Morse Defense (FMD) on Monday said it has acquired Hunt Valve Company, a supplier of valves and actuators for the Navy, industrial, and energy customers, adding a new product portfolio and boosting its aftermarket support capabilities.
Terms of the deal were not disclosed. Hunt Valve, which is based in Ohio and also has facilities in Montreal, has more than 140 employees.
“Our core customers value quality, reliability, and convenience, and the addition of Hunt Valve to the Fairbanks Morse Defense brand allows us to enhance the customer experience by offering a wider range of aftermarket support services through a single vendor,” George Whittier, CEO of FMD, said in a statement.
FMD, a portfolio company of Arcline Investment Management, manufactures engines for Navy and Coast Guard ships and also provides its customers with motors and controls, engine components and service solutions.
Hunt Valve’s customers include the Navy, Navy shipyards, the Naval Supply Systems Command and the Defense Logistics Agency. The company’s valves and electro-mechanical actuators are used on surface ships and submarines, including the Virginia and Columbia-class submarines and the Ford-class aircraft carriers.
Hunt Valve’s management team remains with the company.
“Opportunities to serve the defense industries are increasing with the need to support ageing vessels, and that outlook remains strong with the rapid addition of new platforms to various fleets,” Charles Ferrer, CEO of Hunt Valve, said in a statement. “Becoming part of the Fairbanks Morse Defense team places us in a better position to leverage these opportunities and to accelerate our growth.”
Houlihan Lokey served as FMD’s and Arcline’s financial adviser on the deal and Harris Williams advised Hunt Valve.