Bloomfield aero- and industrial-parts maker Kaman Corp. finalized its $330-million acquisition of California manufacturer Bal Seal Engineering Inc.
Kaman’s purchase of Bal Seal’s 500-employee global operation that makes precision seals and springs for the medical, aerospace and defense markets expands Kaman’s engineered products portfolio, and creates new opportunities in the medical technology, aerospace defense and other sectors, according to company officials.
“Together with Bal Seal, Kaman is uniquely positioned to capitalize on the significant growth opportunities across a number of attractive end markets, including the higher growth medical end market,” Kaman CEO and Chairman Neal J. Keating said.
Following the cash purchase, Kaman will still have $700 million for growth purposes, which likely means additional acquisitions, the company said.
The deal follows the $700 million sale of Kaman’s distribution segment in August to Greenwich investor Littlejohn & Co.
