Fairbanks Morse Defense Continues Expanding Turnkey Solutions with AMMCON Acquisition

Leading defense contractor underscores its commitment to providing turnkey maritime defense services with the acquisition of the Navy's leading fittings and assembled components manufacturer

Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has acquired AMMCON Corp., a Jacksonville- based fittings and assembled components manufacturer. The defense contractor's acquisition continues its expansion and commitment to providing critical components to the U.S. Navy and other marine defense customers.

"Fairbanks Morse Defense is working to build fully integrated products and services that will meet every need of maritime defense, and to accomplish this, we must continue to identify cutting-edge providers who share our commitment to serving as a defense contractor of the first rank," said George Whittier, FMD CEO. "Working together, we are delivering value far beyond the cost of our services and, in the process, ensuring our marine fleets are always mission ready."

Based in Jacksonville, Florida, AMMCON provides critical fittings and other products used on the Virginia and Columbia Class submarine programs, as well as the Ford Class aircraft carrier program. FMD's acquisition enables AMMCON to expand its products to additional platforms and customers across the U.S. Navy, Coast Guard, and Military Sealift Command.

"Over the past 50 years, we have built our business as a defense contractor by honing our quality to pinpoint accuracy to the needs of defense," said Darrell Grow, AMMCON CEO. "This strategic acquisition convergence with FMD strengthens our capabilities and gives us reach and resources that will allow us to continue our commitment to excellence."

This announcement marks FMD's eleventh acquisition since beginning its expansion in December 2020 to serve the maritime defense industry with turnkey solutions. To learn more about FMD's comprehensive and integrated maritime services, you can visit https://www.fairbanksmorsedefense.com.

Images to accompany this announcement are available HERE.

About Fairbanks Morse Defense (FMD)

Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For nearly a century, Fairbanks Morse Defense has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.

To learn more, visit www.FairbanksMorseDefense.com.

About AMMCON Corp.

AMMCON combines years of manufacturing expertise with today's latest technologies to provide fast and precise solutions for our customers. The defense contractor manufactures fittings and assembled components for marine customers. AMMCON has partners locally and internationally with material suppliers and outside processors, enabling it to manufacture fittings and components from plastics, bronze, aluminum, stainless, castings, forgings, weldments, or exotic alloys.

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