Kaman Acquires Allied Bearings Supply

BLOOMFIELD, Conn., April 5 /PRNewswire-FirstCall/ -- Kaman Corporation (Nasdaq: KAMN) today announced that its subsidiary, Kaman Industrial Technologies Corporation (KIT), has completed the previously announced acquisition of Allied Bearings Supply Company (Allied) of Tulsa, Oklahoma.  The transaction closed earlier today, and Allied is now part of Kaman's Industrial Distribution Segment. Terms of the transaction were not disclosed.

Allied, founded in 1934, is a distributor of bearings, power transmission, material handling, and industrial supplies to such diverse markets as the oil, gas, refinery, drilling equipment, steel, cement, paper, and food industries.  In addition to Tulsa, the company also has branches in Oklahoma City, Pryor, Ponca City, Ardmore and, Muskogee, Oklahoma; Fort Smith, Arkansas; and Houston, Texas.  The company had annual sales of approximately $22 million in the fiscal year ended October 31, 2009.

KIT is the third largest distributor of power transmission and motion control products in North America.  The company operates nearly 200 branches, distribution centers and customer service centers across the U. S., Canada, Mexico, and Puerto Rico.  It offers approximately three million items as well as value-added services to a base of about 50,000 customers representing a highly diversified cross section of North American industry.  Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.  

SOURCE Kaman Corporation