Fairbanks Morse makes another aftermarket acquisition
05 January 2021
Fairbanks Morse has acquired U.S.-based Ward Leonard, a provider of motor and control solutions for military applications.
The move is the third aftermarket oriented purchase by the Beloit, Wisconsin-based global provider of heavy-duty medium speed engines in the past six months. The company also named James (Jay) McFadyen as vice president and general manager of Aftermarket in October.
According to Fairbanks Morse, the acquisition will expand the scope of power and propulsion equipment and aftermarket services that it provides to its core customers, including the U.S. Navy, U.S. Coast Guard and the Canadian Coast Guard. The company recently purchased Breco International, a diesel engine repair and rebuilding service provider and Globe Turbocharger Specialties, a manufacturer of turbochargers and parts.
“The acquisition of Ward Leonard expands the Fairbanks Morse product portfolio into complementary technologies, positioning us to serve as a power systems integrator to the U.S. Navy and U.S. Coast Guard,” said George Whittier, CEO of Fairbanks Morse. “Like Fairbanks Morse, Ward Leonard has an installed base across virtually every ship class, and we expect to augment its aftermarket parts and services offerings using Fairbanks Morse’s extensive shop and field service capabilities.”
Connecticut-based Ward Leonard has supplied the U.S. Navy for more than 125 years. The company specializes in the provision of motors, control components and systems integration solutions for surface, subsurface and land-based applications. Ward Leonard has approximately 150 employees based in Connecticut. In addition to Ward Leonard’s Connecticut operations, the company also has affiliated locations in Texas and Louisiana that Fairbanks Morse will not acquire. Fairbanks Morse will retain the Ward Leonard name.
“Through our engineering expertise and industry-leading maintenance and repair services, Ward Leonard has built a strong reputation by focusing on reducing total system costs and mitigating risks for our military customers,” said Jon Carter, owner and CEO of Ward Leonard. “This move will provide additional support for our customers by increasing their access to OEM products and support through Fairbanks Morse’s waterfront field service presence.”