Agreement increases Fairbanks Morse critical parts inventory and expands the company’s service offering
BELOIT, Wis.–(BUSINESS WIRE)–Fairbanks Morse, a leading provider of solutions that are powering the world forward, has finalized an asset purchase agreement with Globe Turbocharger Specialties, Inc., a leading manufacturer of turbochargers and parts, expanding Fairbanks Morse’s service offering to include competitively priced turbocharger services and increasing the company’s critical parts inventory.
“As a company we are putting significant emphasis on providing exceptional service and aftermarket support to our customers,” said George Whittier, CEO of Fairbanks Morse. “Bringing Globe’s extensive inventory and turbocharger service into our business positions us to provide more aftermarket services for our customers and to respond quickly with the parts our customers need, when they need them.”
Based in Reno, Nev., Globe has one of the largest and most comprehensive inventories in the industry including a complete line of new and manufactured ALCO OEM turbocharger units and replacement parts. The company has manufactured turbochargers and spare parts for more than 50 years. Since 1998, Globe has been recognized as the worldwide Original Equipment Manufacturer (OEM) for ALCO turbochargers.
“With the addition of Globe’s turbochargers and parts, Fairbanks Morse will manage the entire process for our customers – from purchase to warranty, service and parts – creating convenience for our customers,” said Whittier. “In addition to convenience, we can bring cost savings to customers by being able to offer competitive pricing for turbocharger service.”
This asset agreement includes all assets and intellectual property of Globe Turbocharger Specialties related to ALCO, EMD, and GE diesel engines. Financial terms of the asset agreement were not disclosed.
About Fairbanks Morse
Fairbanks Morse manufactures and services 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 has been the original equipment manufacturer of its engines for over 125 years and has a large installed base for which it supplies aftermarket parts and services. Fairbanks Morse is the principal supplier of diesel engines to the U.S. Navy, U.S. Coast Guard and Canadian Coast Guard. One hundred percent of manufacturing is conducted in its U.S. based facility in Beloit, Wis., while aftermarket parts and services are delivered through its growing network of service centers strategically located around the U.S. Fairbanks Morse is a portfolio company of Arcline Investment Management. Learn more about Fairbanks Morse by visiting www.fairbanksmorse.com.