Kaman Industrial Technologies Corp., No. 17 on MDM’s list of top industrial distributors and a subsidiary of Kaman Corp. (NYSE: KAMN), Bloomfield, CT, has acquired Florida Bearings, Inc., Miami, FL. Terms were not disclosed.
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Florida Bearings, founded in 1950, is a distributor of bearings, power transmission and pump products and value-add services such as predictive maintenance and motor, gearbox and pump repair to the water, wastewater, municipal, food and aggregate industries. The company has annual sales of approximately $20 million.
“This acquisition enables us to expand our geographic footprint, expand our product and service offerings and further diversify our end market exposure,” said Neal J. Keating, Kaman Corp. president and CEO.
Kaman Corp., founded in 1945, conducts business in the aerospace and industrial distribution markets, offering more than four million items including bearings and mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies. The company operates more than 200 customer service centers and five distribution centers in North America.