Newly Merged Drew Marine and ACR Under New Ownership

Drew Marine announced today that it is merging with ACR Electronics, Inc. (“ACR”).  ACR is a leading global provider of safety products and solutions to the aviation, marine, military and commercial markets worldwide. ACR’s core products include life-saving devices such as rescue beacons, safety lights, and other safety equipment which have been sold for decades under the ACR and Artex brands.

Drew Marine is a global leading provider of technical solutions and services to the maritime and offshore industries specializing in fire, safety and rescue (FSR), water treatment, maintenance chemicals, fuel management and welding and refrigeration products.

 “The addition of ACR to Drew Marine is part of our strategy to expand our offerings in the safety and rescue markets,” said Len Gelosa, Drew Marine President and CEO.  “ACR products, combined with our Pains Wessex and Comet pyrotechnic signals, provide a complete solution to rescue signaling.  The ACR and ARTEX brands – like the Drew Marine, Pains Wessex, Comet, Aurora and Alexander / Ryan brands –  are known for world class quality, state of the art technology and unsurpassed reliability.”

Michael Wilkerson, President and CEO of ACR, said, “We are extremely pleased to be joining Drew Marine as an important part of their strategy to provide the most advanced and reliable rescue solutions.  Drew Marine’s reputation and commitment to quality, reliability and technology is a perfect match with the ACR culture.  We look forward to growing our business together with Drew Marine.”

Headquartered in Whippany, NJ, Drew Marine serves global customers in nearly 100 countries around the world.  ACR’s operations are headquartered in Fort Lauderdale, FL, where they will remain.

The merger is taking place concurrently with the sale of both Drew Marine and ACR to The Jordan Company. The Jordan Company, founded in 1982, is a leading middle-market private equity firm with approximately $6 billion of capital under management and a successful track record of investing in and growing businesses across a wide range of industries, headquartered in New York with offices in Chicago and Shanghai.