Private equity firm acquires airline Kaman for $1.8 billion

WASHINGTON — Private equity firm Arcline Investment Management will acquire aerospace technology company Kaman Corp. in an all-cash deal of about $1.8 billion, according to a Jan. 19 announcement.

Kaman will become a private company when the transaction is completed, he notes.

“Over the past several quarters, we have made significant progress in executing our strategy by transforming our portfolio, investing in innovation, targeting new growth technologies and optimizing the company’s cost structure,” Ian Walsh, Kaman’s chief executive, told the company. announcement. “[W]I look forward to you benefiting from increased resources, expertise and flexibility as a privately held company after closing.”

Under the deal, Kaman shareholders will receive $46 per share in cash, the company said in a statement. That price is roughly double Kaman’s closing stock price on Jan. 18.

Founded in 1945 by aviator Charles Kaman, Bloomfield, Connecticut-based Kaman is known for its K-MAX heavy-lift manned helicopter, which conducted unmanned operations in Afghanistan in 2011.

The company spent nine months developing the KARGO unmanned aerial system to provide a medium-lift logistics capability. He unveiled the KARGO, a quadcopter intended to resupply small units of Marines scattered across island chains as part of the Corps’ advanced base operations concept in 2021.

Kaman also manufactures aircraft components and aerostructures for helicopters, fixed-wing and unmanned aerial vehicles, and has performed subcontract work for the restoration, modification and support of SH-2G Seasprite maritime helicopters.

“Kaman has long been a trusted provider of mission-critical manufactured parts and subsystems solutions, and we believe the Company is in a strong position to grow and benefit from attractive headwinds,” Arcline said in the statement. “We look forward to working closely with Ian and the rest of the talented team at Kaman to drive further growth through accelerated investments in both new product development and strategic acquisitions.”

Read the original at

Related Posts