US naval engine builder Fairbanks Morse Defense (FMD) has expanded its portfolio by acquiring Hunt Valve Company, which makes valves and actuators for defence and industrial markets, FMD announced on 13 September.
“Our core customers value quality, reliability, and convenience, and the addition of Hunt Valve to the Fairbanks Morse Defense brand allows us to enhance the customer experience by offering a wider range of aftermarket support services through a single vendor,” FMD CEO George Whittier said.
Based in Beloit, Wisconsin, FMD purchased Hunt Valve from US private equity firm May River Capital, which had been the owner since 2015. Financial terms of the deal were not disclosed.
Hunt Valve's products are used on US Navy vessels, such as Ford-class aircraft carriers and Columbia- and Virginia-class submarines. By gaining Hunt Valve's more than 140 employees in Salem, Ohio, and Montreal, Quebec, FMD's workforce will grow to approximately 900 employees.
Hunt Valve has conducted acquisitions of its own, such as buying actuator business Precision Technology in 2017 and both MB Valve and Pima Valve in 2019.
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