CONTENT PREVIEW
Industry

Kaman to divest Distribution business

26 June 2019
Follow

US aerospace company Kaman Corporation announced on 26 June that it is selling its Distribution segment to private equity investment company Littlejohn & Co LLC.

Kaman expects the USD700 million cash deal to close in the third quarter of 2019, pending the usual regulatory approvals.

Kaman Distribution provides a range of power transmission and motion control industrial products such as bearings and mechanical power transmission equipment, mainly to non-defence customers. It employs 2,200 staff and accounted for net revenues of USD1.1 billion in 2018 (64% of the group total).

Kaman Aerospace will be the sole remaining segment of the business, employing about 3,000 staff and operating from 14 facilities worldwide.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes





(134 of 229 words)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT