M&A Deal Summary

Arcline Investment Management Acquires Fairbanks Morse Defense

On December 12, 2019, private equity firm Arcline Investment Management acquired machinery company Fairbanks Morse Defense from EnPro for 450M USD

Acquisition Highlights
  • This is Arcline Investment Management’s 3rd transaction in the Machinery sector.
  • This is Arcline Investment Management’s 2nd largest (disclosed) transaction.
  • This is Arcline Investment Management’s 8th transaction in the United States.
  • This is Arcline Investment Management’s 1st transaction in Wisconsin.

M&A Deal Summary

Date 2019-12-12
Target Fairbanks Morse Defense
Sector Machinery
Buyer(s) Arcline Investment Management
Sellers(s) EnPro
Deal Type Divestiture
Deal Value 450M USD

Target

Fairbanks Morse Defense

Beloit, Wisconsin, United States
Fairbanks Morse Defense develops and manufactures heavy-duty, medium-speed reciprocating engines under the Fairbanks Morse and ALCO brand names, which are used primarily in marine and power generation applications. Fairbanks Morse Defense was founded in 1871 and is based in Beloit, Wisconsin.

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Buyer(S) 1

Buyer
DESCRIPTION

Arcline Investment Management is a private equity firm that seeks to invest in niche, market-leading companies. Arcline is a generalist investor, however the Firm prefers businesses in the industrials, technology, life science, and chemicals sectors. The Firm targets businesses with $10 to $100 million of EBITDA and valued up to $1 billion. Arcline was formed in 2018 and has offices in New York City and San Francisco.


DEAL STATS #
Overall 8 of 27
Sector (Machinery) 3 of 5
Type (Divestiture) 2 of 2
State (Wisconsin) 1 of 1
Country (United States) 8 of 23
Year (2019) 8 of 8
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-11 Akron Biotechnology

Boca Raton, Florida, United States

Akron Biotechnology is a provider of cGMP-compliant products and services critical for the production of advanced therapy medicinal products, including cell therapies, gene therapies, and engineered tissues. Akron offers a variety of cGMP products, including cytokines and growth factors, cryopreservation solutions, and cell culture media supplements. Akron Biotechnology was founded in 2006 and is based in Boca Raton, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-01 American Elevator Group

New York, New York, United States

American Elevator Group is a provider of elevator maintenance, modernization, and installation upgrade services to a large installed base of commercial and residential elevators. American Elevator Group was founded in 1902 and is based in New York City.

Buy -

Seller(S) 1

SELLER

EnPro

Charlotte, North Carolina, United States

Category Company
Founded 2002
Sector Machinery
Employees3,500
Revenue 1.1B USD (2023)
DESCRIPTION

EnPro is a provider of sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products. EnPro was founded in 2002 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 3 of 9
Sector (Machinery) 2 of 2
Type (Divestiture) 3 of 9
State (Wisconsin) 1 of 1
Country (United States) 3 of 8
Year (2019) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-22 LeanTeq

Taoyuan City, Taiwan

LeanTeq Co., Ltd. provides cleaning, testing, and verification refurbishment services for critical components and assemblies used in state-of-the-art semiconductor equipment. LeanTeq Co., Ltd. was founded in 2011 and is based in Taoyuan City, Taiwan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-04 Infinity Engineered Products

Fairlawn, Ohio, United States

Infinity Engineered Products is a provider of premium air springs for trucks, trailers, buses, and specialty vehicles.

Sell -