Bloomfield, Conn.– Kaman Corp. (NYSE:KAMN) announced today that it has completed the previously announced acquisition of Bal Seal Engineering, Inc. (“Bal Seal”), a leader in the design, development, and manufacturing of highly engineered products including precision springs, seals, and contacts. With this acquisition, Kaman has significantly expanded its portfolio of engineered products and offerings while creating new opportunities to reach customers in medical technology, aerospace and defense, and industrial end markets.
“I want to welcome all the employees of Bal Seal to the Kaman family,” stated Rick Barnhart, President, Kaman Aerospace Group. “We look forward to working with Rick Dawson and the entire team at Bal Seal to continue to build upon the history of hard work, innovation, and ingenuity that has made Bal Seal a world class supplier of seals, springs, and contacts for over 60 years.”
“We are excited to welcome the Bal Seal team to Kaman as we work together to leverage our expanded portfolio of highly engineered products, proprietary technologies and deep customer relationships,” said Neal J. Keating, Chairman, President and CEO. “Together with Bal Seal, Kaman is uniquely positioned to capitalize on the significant growth opportunities across a number of attractive end markets, including the higher growth medical end market. We look forward to realizing the strategic and financial benefits of this transaction, including anticipated meaningful near-term margin and cash flow accretion.”
About Kaman Corporation
Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace & defense, industrial and medical markets. Kaman produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification and support of our SH-2G Super Seasprite maritime helicopters; manufacture and support of our K-MAX® manned and unmanned medium-to-heavy lift helicopters. More information is available at www.kaman.com.
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