Arcline Investment Management-backed Fairbanks Morse completed the acquisition of Vestdavit.

Arcline Investment Management-backed Fairbanks Morse, a US-based naval power and propulsion systems provider, completed the acquisition of Vestdavit, a Norway-based supplier of davits and advanced handling systems. Financial terms were not disclosed. “Fairbanks Morse Defense and Vestdavit share a longstanding commitment to providing mission-critical equipment for navies that are protecting the freedom of the seas. Vestdavit’s advanced handling technologies complement our existing portfolio while broadening our OEM and service capabilities. In turn, Vestdavit will benefit from our worldwide support infrastructure, ensuring customers receive the highest standard of service wherever they operate,” Steve Pykett, Fairbanks Morse Defense CEO.