Arcline Investment-backed Fairbanks Morse completed the acquisition of Ward Leonard.

Arcline Investment-backed Fairbanks Morse, a company that manufactures and delivers high-quality engines and power systems, completed the acquisition of Ward Leonard, a provider of motor and control solutions for military applications. Financial terms were not disclosed. "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. We were impressed with the speed, efficiency and professionalism of both the Fairbanks and Arcline teams in working towards a closing. 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," Jon Carter, Ward Leonard Owner and CEO.