Market Overview

Kaman Signs Agreement to Acquire Parker Distributor Calkins Fluid Power

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Kaman Corporation (NYSE: KAMN) today announced that its Distribution Segment (Kaman) has signed a definitive agreement to acquire substantially all the assets of Calkins Fluid Power, Inc. (Calkins), a distributor of fluid power components and systems. Terms of the sale were not disclosed.

Founded in the 1920s, Calkins is a full-line authorized distributor of Parker's mobile and industrial hydraulics, filtration and pneumatics products. Calkins also designs and integrates hydraulic power units and systems. Calkins operates out of Spokane, Washington and serves a variety of industries throughout Washington, Montana and Idaho. The company will become part of Kaman's fluid power platform.

"The acquisition of Calkins represents a continuation of our strategy to build a strong fluid power position and further supports our strategic relationship and authorizations with our primary supplier, Parker Hannifin. We see significant growth opportunities and synergies with Calkins and our previously announced acquisitions in the Pacific Northwest of Northwest Hose & Fittings and Western Fluid Components. Calkins is a strong company with excellent technical capabilities that will enhance our capabilities to offer all three Parker motion product groups in this market," said Tribby Warfield, Senior Vice President, General Manager of Kaman Fluid Power.

Posted-In: M&A News

 

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