Fairbanks Morse Defense (FMD), Beloit, Wis., a portfolio company of Arcline Investment Management (Arcline), has entered into an agreement with Rolls-Royce to acquire its naval propulsors and handling business. The FMD press release noted the acquisition will include a range of propellers and waterjets for naval applications, as well as marine handling systems, which enable the deployment and recovery of manned and unmanned craft, and other cargo, from naval vessels.