The addition of Aircraft Wheel & Brake to the company will increase Kaman’s exposure to attractive aerospace and defense end markets with significant growth potential.
Kaman Corporation announced the completion of the acquisition process of the Parker-Hannifin Corporation (“Parker”) Aircraft Wheel & Brake Division (“Aircraft Wheel & Brake”) on September 16, 2022. The addition of Aircraft Wheel & Brake to the company will increase Kaman’s exposure to attractive aerospace and defense end markets with significant growth potential. The deal will also provide Kaman an opportunity to increase its position in higher-margin aftermarket products.
The acquisition is expected to be accretive to Kaman’s margin and cash flow within the first twelve months following the close of the transaction. Following the transaction, Kaman intends to apply the free cash flow from the combined business to deleverage the balance sheet.
Kaman aims to broaden the number of offerings available to serve customers with a larger and even more extensive portfolio of engineered products across a range of critical applications. Kaman’s expertise in running a solutions-based business combined with Aircraft Wheel & Brake’s proprietary manufacturing and material science technologies should enhance Kaman’s Engineered Products segment and add scale to its operations.
“We are excited to welcome the Aircraft Wheel & Brake employees to the Kaman family,” said Ian Walsh, Chairman, President and Chief Executive Officer. “I want to thank the teams at Kaman and Aircraft Wheel & Brake for their conscientious efforts to complete the transaction and their thorough planning for a seamless integration. Kaman, together with Aircraft Wheel & Brake, is expanding the breadth of our product offerings, increasing our exposure to attractive markets, and driving meaningful near-term margin and cash flow accretion,” he further added.
The Parker-Hannifin Corporation Aircraft Wheel & Brake has been a provider of mission-critical wheel and brake technology products and solutions for more than 80 years. With a strong OEM and aftermarket portfolio supporting more than 100 platforms, Aircraft Wheel & Brake specializes in wheels, brakes and related hydraulic components for helicopters, fixed-wing and UAV aircraft.
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The Parker-Hannifin Corporation Aircraft Wheel & Brake has long-standing global relationships with leading military and general aviation customers providing customized proprietary designs, protected by intellectual property. Aircraft Wheel & Brake operates out of one centralized facility in Avon, Ohio, providing a full suite of capabilities including design, development and qualification, as well as manufacturing, assembly, product support and repairs.
