Kaman Acquiring Two Firms
According to the Hartford Business Journal, CBIA member Kaman and its distribution segment has signed a definitive agreement to acquire the assets of Calkins Fluid Power Inc., a distributor of fluid power components and systems. Terms of the sale were not disclosed.
Kaman also recently announced that its aerospace segment has entered into an agreement to acquire GRW Bearing GmbH (GRW), a German-based designer and manufacturer of super precision, miniature ball bearings.
The company is expected to have sales in 2015 of approximately €48 million .
GRW is focused on the demanding applications segment of the miniature ball bearings market, where low noise requirements, extreme temperatures, ultra-high speeds and/or caustic environments require both exceptional engineering design and continuous operating performance capabilities. GRW operates out of two state-of-the-art production facilities in Rimpar, Germany and Prachatice, Czech Republic.
Calkins operates out of Spokane, Washington, and serves a variety of industries throughout Washington, Montana and Idaho.
The company will become part of Bloomfield-based Kaman’s fluid power platform. Calkins, a 95-year-old firm, is a full-line authorized distributor of mobile and industrial hydraulics, filtration and pneumatics products. The firm also designs and integrates hydraulic power units and systems.
“The acquisition of Calkins represents a continuation of our strategy to build a strong fluid power position. We see significant growth opportunities and synergies with Calkins and our previously announced acquisitions in the Pacific Northwest. Calkins is a strong company with excellent technical capabilities,” said Tribby Warfield, senior vice president, GM of Kaman Fluid Power.
Kaman has been actively acquiring businesses lately. In October, it completed the purchase of acquired Timken Alcor Aerospace Technologies Inc. The company designs and supplies aftermarket parts to support businesses conducting maintenance, repair, and overhauls in aerospace markets.
Kaman’s third quarter results showed a 9.3 percent growth in net income. Strong performance in its aerospace division and cost controls were a factor, the company said.
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