Kaman Industrial Technologies, the distribution segment of Kaman Corp. (NYSE: KAMN), Bloomfield, CT, has agreed to acquire Ohio Gear & Transmission of Eastlake, OH, a distributor of mechanical power transmission equipment, bearings & electric automation systems and a fabricator of specialized gearing products for the food, packaging, material handling and general machinery industries. The company has one location and annual sales of $9 million.
Steve Smidler, president of Kaman, said Ohio Gear provides entry into the Cleveland market, a new market for Kaman. “They also have design, build and assembly capabilities for a wide variety of standard and unique gearing products,” he said.
The transaction is expected to close by the end of July. Ohio Gear & Transmission will become part of Kaman’s Distribution segment.