Kaman Corp. has added to its portfolio with the acquisition of German ball-bearing manufacturer GRW Bearing GmbH. The company is known for its design and manufacturer of super precision, miniature ball bearings.
The purchase price was approximately $143 million, net of cash acquired, and was funded through borrowings under the company’s revolving credit facility, Kaman said in a statement. GRW expects 2015 sales of approximately $51 million.
Kaman already had a bearings manufacturing company in Germany, RWG Germany, which it acquired in 2002. “Few companies in the world have the technical capability to design and manufacture miniature bearings capable of achieving performance standards as high as GRW,” said Gregory Steiner, president, Kaman Aerospace Group.
Earlier this month Kaman acquired Calkins Fluid Power, a distributor of fluid power components and systems. It is a full-line authorized distributor of mobile and industrial hydraulics, filtration and pneumatics products.
