🔒Following $1.1B IPO, Bloomfield manufacturer with ties to Kaman announces two acquisitions

Arxis Inc., the Bloomfield-based manufacturer that includes the former operations of Kaman Corp., has agreed to acquire two aerospace and defense suppliers in deals valued at a combined approximately $890 million, according to an announcement Tuesday from the company. The larger deal is an approximately $770 million stock acquisition of Minnesota-based Omnetics Connector Corp., a designer and manufacturer of connectors and interconnect assemblies used in defense, space, aerospace and medical applications. Arxis also said it completed its acquisition of MagCanica Inc., a manufacturer of high-precision torque sensors, on June 1. According to Arxis, the combined purchase price for the two companies is about $890 million. The company said Omnetics will operate within its Electronic Components segment following the deal’s closing, while MagCanica has already joined that business unit. The Omnetics acquisition is expected to close in the third quarter, subject to regulatory approvals and customary closing conditions, according to the company. The acquisitions are among the first major expansion moves by Arxis since it completed a $1.1 billion initial public offering in April. Arxis was created by private equity firm Arcline Investment Management through the combination of Kaman and several other manufacturers serving aerospace, defense, medical technology and industrial markets.