In the span of 15 hours, Kaman Corp. in Bloomfield announced a pair of deals to expand the Bloomfield company’s footprint into the Southwest oil and petrochemical market and deepen its penetration into Mexico’s hydraulics and lubrication sector.
In the U.S., Kaman’s Kaman Industrial Technologies Corp. (KIT) subsidiary announced Thursday morning an agreement to acquire Allied Bearings Supply Co., based in Tulsa, Okla. The deal is set to close April 5 for undisclosed price tag.
KIT President Jack Cahill said Allied’s reputation and strong customer base fits Kaman’s strategy to broaden its geographic markets as well as giving it an initial presence in the burgeoning petroleum industry.
Founded in 1934, Allied distributes 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.
Allied’s annual sales are about $22 million. It has branch offices in Oklahoma City, Pryor, Ponca City, Ardmore and, Muskogee, Okla.; Fort Smith, Ark.; and Houston.
In the second deal unveiled late Wednesday, KIT announced plans to acquire the assets of Fawick de Mexico, S.A. de C. V. of Mexico City. Fawick will become part of Delamac de Mexico, Kaman’s Mexican industrial distribution unit. Terms also were not disclosed.
Cahill said the deal complements Kaman’s Mexican presence and is a bet on the long-term prospects for that nation’s market.
Started in 1965, Fawick distributes fluid power and lubrication products, equipment and systems to a wide variety of industries throughout Mexico. Â In addition, Fawick offers value added services in the areas of pump maintenance, hydraulic and lubrication systems.
Fawick has annual sales of approximately $3.9 million.
