BLOOMFIELD, Connecticut (January 13, 2015) - Kaman Corporation (NYSE:KAMN) today announced that its Distribution Segment has executed a definitive agreement to acquire substantially all the operating assets of G.C. Fabrication, Inc. (GCF) of Northvale, New Jersey. The acquisition expands Kaman’s Automation, Control & Energy platform into the New York metro market. The transaction is expected to close later this month.
GCF, founded in 1982, is a premier Schneider Electric/Square D distributor and carries a variety of electrical power, automation, process controls, specialized HVAC, water and wastewater systems, communication and networking devices from a premier set of global manufacturers. GCF had 2014 sales of approximately $20 million and employs 30 people.
Steve Smidler, president of Kaman stated, “We are pleased to expand our strategic relationship with Schneider through the acquisition of GCF. The GCF team has an excellent reputation as an engineering services firm with both its suppliers and customers, and a track record of strong financial performance. Its presence in the New York market complements our acquisitions of Minarik, Target Electronic Supply and Zeller and will allow us to continue to execute our strategies in this market.”
GCF principals Joseph Abbatiello and David Plaut stated, “We are thrilled to be joining up with the Kaman team. The combination offers tremendous growth and expansion opportunities for GCF and our people. Further, our product and market knowledge match well with Kaman’s strategy of engineered value added solutions and technical excellence.”
Kaman Corporation (NYSE:KAMN), which was founded in 1945 by aviation pioneer Charles H. Kaman is headquartered in Bloomfield, Connecticut, Kaman conducts business in the aerospace and distribution markets. The Company is a leading distributor of industrial parts, and operates more than 250 customer service centers and five distribution centers across the United States and Puerto Rico. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Kaman also provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customized mechanical services, hose assemblies, repair, fluid analysis and motor management. Additionally, the company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; and support for the company's SH-2G Super Seasprite maritime helicopters and K-MAX medium-to-heavy lift helicopters. More information is available at www.kaman.com.
|Eric Remington, Vice President, Investor Relations|