BLOOMFIELD, Conn.--(BUSINESS WIRE)--Nov. 6, 2015--
Kaman Corporation (NYSE:KAMN) today announced that its Distribution
Segment (Kaman) has signed a definitive agreement to acquire
substantially all the assets of Calkins Fluid Power, Inc. (Calkins), a
distributor of fluid power components and systems. Terms of the sale
were not disclosed.
Founded in the 1920s, Calkins is a full-line authorized distributor of
Parker’s mobile and industrial hydraulics, filtration and pneumatics
products. Calkins also designs and integrates hydraulic power units and
systems. Calkins operates out of Spokane, Washington and serves a
variety of industries throughout Washington, Montana and Idaho. The
company will become part of Kaman’s fluid power platform.
“The acquisition of Calkins represents a continuation of our strategy to
build a strong fluid power position and further supports our strategic
relationship and authorizations with our primary supplier, Parker
Hannifin. We see significant growth opportunities and synergies with
Calkins and our previously announced acquisitions in the Pacific
Northwest of Northwest Hose & Fittings and Western Fluid Components.
Calkins is a strong company with excellent technical capabilities that
will enhance our capabilities to offer all three Parker motion product
groups in this market,” said Tribby Warfield, Senior Vice President,
General Manager of Kaman Fluid Power.
About Kaman Corporation
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman,
and headquartered in Bloomfield, Connecticut conducts business in the
aerospace and industrial distribution markets. The company is a leading
distributor of industrial parts, and operates more than 200 customer
service centers and five distribution centers across North America.
Kaman offers more than four million items including bearings, mechanical
power transmission, electrical, material handling, motion control, fluid
power, automation and MRO supplies to customers in virtually every
industry. Kaman also provides engineering, design and support for
automation, electrical, linear, hydraulic and pneumatic systems as well
as belting and rubber fabrication, customized mechanical services, hose
assemblies, repair, fluid analysis and motor management. Additionally,
the company produces and/or markets widely used proprietary aircraft
bearings and components; complex metallic and composite aerostructures
for commercial, military and general aviation fixed and rotary wing
aircraft; aerostructure engineering design analysis and FAA
certification services; safe and arm solutions for missile and bomb
systems for the U.S. and allied militaries; design and supply of
aftermarket parts to MRO aerospace markets;K-MAX® medium to
heavy lift helicopters; and support for the company's SH-2G Super
Seasprite maritime helicopters and K-MAX® aircraft. More information is
available at www.kaman.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151106006019/en/
Source: Kaman Corporation
Kaman Corporation
Eric Remington, 860-243-6334
Vice President,
Investor Relations
eric.remington@kaman.com
or
Kaman
Industrial Technologies Corporation
David Mayer, 860-687-5185
Vice
President, Marketing & Services
dave.mayer@kaman.com