The United States military is a force to be reckoned with. Our country's strength and resilience is made possible only by a collective effort, and the Portsmouth-based company, Fairlead, is eager to support the cause. Its four divisions—Ship Repair, Systems, Structures, and Dock & Storage—offer a comprehensive range of services to support the U.S. Navy and other maritime customers. Under the visionary leadership of President Fred Pasquine and owners Jerry Miller and Dan Akerson, the company has experienced remarkable growth and continued success in its mission to bring the warfighter home.
Fairlead operated as Earl Industries from its founding in 1985 until General Dynamics acquired three of its five operating divisions in 2012. The two divisions that remained, Precision Manufacturing & Integration and Integrated Power & Controls, were transformed into a small, veteran-owned business dubbed Miller IMG. Two years later, founder Jerry Miller rebranded Miller IMG as the modern-day Fairlead. “We have the best owners in the business,” says Pasquine. “Miller and Dan Akerson are patriots who demonstrate unmatched integrity and have competitive business minds.”
In his seven short years as company president, Pasquine has proven to be equally as impactful as his predecessors. Not only has the company experienced 400% organic growth under Pasquine’s leadership, but it has also drastically improved and expanded its services and divisions. Its impressive expansion is a testament to the company’s strategic vision, effective leadership and innovative approach to problem solving.
The company’s ability to identify new opportunities and develop solutions enables it to stay ahead of the competition. In 2019, for example, Fairlead recognized an untapped market for large ship repairs at the Military Sealift Command and U.S. Maritime Administration (MARAD) in Norfolk. The company acquired the experts needed to execute the repairs and purchased Portsmouth’s Ocean Marine & Yacht Center to better service larger vessels like the USNS Mendonca and USNS Yano.
Another milestone was reached in 2020 when Fairlead added its third division, Fairlead Structures, to support the fabrication and preservation of large ship structures for aircraft carriers and submarines. “We have delivered over 3,000 tons of fabricated and preserved ship structures over the past three years to Newport News Shipbuilding and Electric Boat, [the latter of which] we had no contracts with prior to 2019. We now have 29 contracts to provide electrical power and control products,” says Pasquine.
Fairlead adopted its fourth division, Dock & Storage, in 2022 to fulfill the need for general ship berthing services, maritime logistics and waterfront industrial leases. This division operates out of Norfolk’s Fairwinds Landing, formerly Lambert’s Point Docks.
Pasquine credits Fairlead’s remarkable success to the dedication of his roughly 400 employees, who stand on the company’s pillars of Humbleness, Togetherness, Tenacity, Speed with Compliance and Employee & Customer Success. “We want to be known as a principled company that always does what we say we are going to do,” Pasquine says. “We believe only happy employees will endure to make our customers successful. We empower our employees with autonomy, authority and [strive to help them] experience personal success at work every day.”
Fairlead’s dedication to Employee & Customer success was recognized with the Hampton Roads Workforce Council’s 2023 Innovation Award. Fairlead made the largest use of matching grant funds to support employee training, which later led to an industry certification. With an engaged workforce and commitment to excellence, Fairlead is poised to remain a trusted provider in the maritime sector.
