6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Kaman Corporation, Bloomfield, Connecticut, has completed the previously announced acquisition of Bal Seal Engineering, Inc., a leader in the design, development, and manufacturing of highly engineered products including precision springs, seals, and contacts. Terms of the transaction were not disclosed.
With this acquisition, Kaman has significantly expanded its portfolio of engineered products and offerings while creating new opportunities to reach customers in medical technology, aerospace and defense, and industrial end markets.
“I want to welcome all the employees of Bal Seal to the Kaman family,” stated Rick Barnhart, president, Kaman Aerospace Group. “We look forward to working with Rick Dawson and the entire team at Bal Seal to continue to build upon the history of hard work, innovation, and ingenuity that has made Bal Seal a world class supplier of seals, springs, and contacts for over 60 years.”
“We are excited to welcome the Bal Seal team to Kaman as we work together to leverage our expanded portfolio of highly engineered products, proprietary technologies and deep customer relationships,” said Neal J. Keating, chairman, president and CEO. “Together with Bal Seal, Kaman is uniquely positioned to capitalize on the significant growth opportunities across a number of attractive end markets, including the higher growth medical end market. We look forward to realizing the strategic and financial benefits of this transaction, including anticipated meaningful near-term margin and cash flow accretion.
Kaman Corporation spun off its Distribution Group – Kaman Automation, Kaman Fluid Power, and Kaman Industrial Technologies – last year in a $700-million deal with private equity firm Littlejohn & Co.