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Headquarters: Bloomfield, CT
2013 Revenues: $110 million (fluid power)
Locations: 230 branches; 5 regional distribution centers
2013 Acquisitions: Northwest Hose & Fittings Inc., Ohio Gear & Transmission, Western Fluid Components Inc.
Key Executives: Steven Smidler, president
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. In 2013 and early 2014, Kaman focused heavily on building up its fluid power business and expanding its Parker Hannifin distribution footprint by acquiring B.W. Rogers, Northwest Hose & Fittings and Western Fluid Components. B.W. Rogers, according to President Steve Smidler, will serve as the platform for other fluid power acquisitions.
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 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.
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