Arcline Investment Management, a private equity firm is set to acquire Fairbanks Morse, a specialty machinery manufacturer, from industrial machinery manufacturer EnPro Industries for $450m. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close by March 31, 2020. “I would like to thank the Fairbanks Morse team for their hard work and dedication that has put the business on a clear growth trajectory. We were able to monetize this momentum through a sale to Arcline, and we are confident they will continue this strong growth trend,” Marvin Riley, EnPro CEO.