Arcline Investment-backed Fairbanks Morse to acquire the Naval Propulsors and Handling business of Rolls-Royce.

Arcline Investment-backed Fairbanks Morse, a premier naval engine supplier, agreed to acquire the Naval Propulsors and Handling business of Rolls-Royce, an engineering group. Financial terms were not disclosed. “When you look at the 150-year history of Fairbanks Morse Defense, you will find a handful of distinctive moments that completely transformed this company. We believe the acquisition of Rolls-Royce naval propulsors and handling businesses will become one of those moments. Combining our capabilities allows Fairbanks Morse Defense to substantially increase what we offer to our US maritime defense customers while also offering our systems and components solutions to Rolls-Royce's global customer base," George Whittier, Fairbanks Morse CEO.