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Headquarters: Bloomfield, CT
2013 Revenues: $1.07 billion
Change in Sales from 2012: 5.7%
2013 Acquisitions: Hose & Fittings, Inc., Ohio Gear & Transmission, Western Fluid Components, Inc
Key Executives: Steven J. Smidler, president; Roger Jorgensen, SVP, Finance
Kaman Industrial Technologies, which is one of the business units of Kaman Corp. (NYSE: KAMN), has three distribution product platforms: Electrical and Automation Control; MRO-Bearings and Power Transmission; and Fluid Power. The industrial distributor passed $1 billion in sales for the first time in 2012. Acquisitions were the primary driver of growth in 2012.
Kaman received national authorization from Schneider Electric in 2012 to sell AC drives, sensors, low voltage controls and automation, as well as other equipment.
In 2012, Kaman entered into a joint venture with Kineco in India.
In 2013, Kaman entered into a strategic alliance with Wajax Industrial Components to create Sourcepoint International, under which each organization would support the other in their home markets.
Kaman also recently sold its seven Canadian branches to Wajax Industrial Components. “We were sub-scale in Canada with limited opportunities to grow through acquisition. We have worked with Wajax in the past and we look forward to strengthening that relationship in the future,” President Steve Smidler said at the time.
In 2012, Kaman embarked on a new ERP business system search, which is expected to cost the distribution company $45 million and take several years to implement, according to Kaman’s annual report.
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