Kaman Corporation (NYSE: KAMN) said its Aerospace segment has acquired GRW Bearing GmbH (GRW), a German-based designer and manufacturer of super precision, miniature ball bearings.
GRW is focused on the demanding applications segment of the miniature ball bearings market, where low noise requirements, extreme temperatures, ultra-high speeds and/or caustic environments require both exceptional engineering design and continuous operating performance capabilities.
GRW operates out of two state-of-the-art production facilities in Rimpar, Germany and Prachatice, Czech Republic, and is expected to have sales for the full year 2015 of approximately â¬48 million (Euros).
The purchase price was approximately EUR135.2 million, net of cash acquired, and was funded through borrowings under the company´s revolving credit facility.
Citizens Bank, N. A. acted as financial advisor to Kaman for this transaction.
Kaman, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.