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.
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