Kaman Corporation has completed the previously announced sale of its distribution segment to affiliates of Littlejohn & Co., LLC for $700 million. The transaction value represents a multiple of 10.4 times trailing twelve-month Segment Adjusted EBITDA for the distribution segment.
Following the completion of the transaction, Kaman Distribution will continue to service customers under its three platforms; Automation, Fluid Power and Industrial Technologies. Kaman Distribution provides customers with premium products and integrated solutions.
“Kaman Distribution is looking forward to being a part of Littlejohn with their proven track record of building and growing businesses like ours,” said Al Lariviere, President of Kaman Distribution Group. “They are prepared to continue to invest in the business to accelerate our growth and further enhance KDG’s ability to support our customers. I am excited for the future of the business and the associated opportunities it will bring to our employees.”