Kaman Corporation announced the completion of the acquisition process of the Parker-Hannifin Corporation (“Parker”) Aircraft Wheel & Brake Division (“Aircraft Wheel & Brake”) on September 16, 2022. The addition of Aircraft Wheel & Brake to the company will increase Kaman’s exposure to attractive aerospace and defense end markets with significant growth potential. The deal will also provide Kaman an opportunity to increase its position in higher-margin aftermarket products.
The acquisition is expected to be accretive to Kaman’s margin and cash flow within the first twelve months following the close of the transaction. Following the transaction, Kaman intends to apply the free cash flow from the combined business to deleverage the balance sheet.
Kaman aims to broaden the number of offerings available to serve customers with a larger and even more extensive portfolio of engineered products across a range of critical applications. Kaman’s expertise in running a solutions-based business combined with Aircraft Wheel & Brake’s proprietary manufacturing and material science technologies should enhance Kaman’s Engineered Products segment and add scale to its operations.