Kaman taking over Bal Seal
November 11, 2019 - United States Of America
Kaman Corporation is taking over Bal Seal for $330 million in cash. The two have entered into a definitive agreement in this connection. The transaction establishes a leading engineered products provider. With a larger portfolio of engineered products, the combined company will be better able to serve customers across a range of critical applications.
Bal Seal designs, develops, and manufactures precision springs, seals, and contacts . With a strong platform of more than 240 patents across its proprietary manufacturing and material technologies, Bal Seal specialises in delivering critical components to customers in the medical technology, aerospace and defence, and industrial end markets. Bal Seal has an established global presence, with manufacturing, sales, and distribution operations across the US, Europe, and Asia, as well as additional resources around the world to ensure the quality and reliability of its products.
“Following the recent sale of our distribution business, Kaman’s strategic focus has centred on growing our highly engineered products business, enhancing margins, and driving free cash flow generation,” said Neal J Keating, chairman, president and CEO. “This complementary acquisition of Bal Seal will advance all three objectives by expanding the breadth of our product offering, increasing our exposure to attractive high growth markets, and driving meaningful near-term margin and cash flow accretion. We are especially excited to add the strong Bal Seal management team to our organisation while leveraging their leading proprietary technology, breadth of products, and strong customer relationships.”
Rick Barnhart, president, Kaman Aerospace Group added, “Like Kaman, Bal Seal prides itself on its outstanding product quality, strong leadership and employee talent, and an unrelenting commitment to innovation. We believe our similar cultures and customer-centric approaches make our organisations an excellent and highly complementary match. We are excited for Bal Seal employees to join the Kaman team and work together to build strong alliances with our customers.”
“The combination of Bal Seal and Kaman represents a compelling opportunity for Bal Seal, our employees, and all our stakeholders,” said Rick Dawson, president and chief executive officer of Bal Seal. “We look forward to leveraging Kaman’s scale, resources, and complementary capabilities to further extend our leadership positions and penetrate new markets with our combined offerings. We have known and respected the team at Kaman for many years and view them as ideal partners to help unlock the full potential of Bal Seal. We are excited to work closely with the Kaman team to ensure a smooth integration and capitalise on exciting new opportunities for growth.”
The transaction establishes a leading engineered products provider. With a larger and more extensive portfolio of engineered products and offerings, the combined company will be better able to serve customers across a range of critical applications. The combined company will leverage Kaman’s expertise in running a solutions-based business and Bal Seal’s proprietary manufacturing and material science technologies to enhance its engineered products business and add scale to its operations.
Bal Seal designs, develops, and manufactures precision springs, seals, and contacts . With a strong platform of more than 240 patents across its proprietary manufacturing and material technologies, Bal Seal specialises in delivering critical components to customers in the medical technology, aerospace and defence, and industrial end markets. Bal Seal has an established global presence, with manufacturing, sales, and distribution operations across the US, Europe, and Asia, as well as additional resources around the world to ensure the quality and reliability of its products.
“Following the recent sale of our distribution business, Kaman’s strategic focus has centred on growing our highly engineered products business, enhancing margins, and driving free cash flow generation,” said Neal J Keating, chairman, president and CEO. “This complementary acquisition of Bal Seal will advance all three objectives by expanding the breadth of our product offering, increasing our exposure to attractive high growth markets, and driving meaningful near-term margin and cash flow accretion. We are especially excited to add the strong Bal Seal management team to our organisation while leveraging their leading proprietary technology, breadth of products, and strong customer relationships.”
Rick Barnhart, president, Kaman Aerospace Group added, “Like Kaman, Bal Seal prides itself on its outstanding product quality, strong leadership and employee talent, and an unrelenting commitment to innovation. We believe our similar cultures and customer-centric approaches make our organisations an excellent and highly complementary match. We are excited for Bal Seal employees to join the Kaman team and work together to build strong alliances with our customers.”
“The combination of Bal Seal and Kaman represents a compelling opportunity for Bal Seal, our employees, and all our stakeholders,” said Rick Dawson, president and chief executive officer of Bal Seal. “We look forward to leveraging Kaman’s scale, resources, and complementary capabilities to further extend our leadership positions and penetrate new markets with our combined offerings. We have known and respected the team at Kaman for many years and view them as ideal partners to help unlock the full potential of Bal Seal. We are excited to work closely with the Kaman team to ensure a smooth integration and capitalise on exciting new opportunities for growth.”
The transaction establishes a leading engineered products provider. With a larger and more extensive portfolio of engineered products and offerings, the combined company will be better able to serve customers across a range of critical applications. The combined company will leverage Kaman’s expertise in running a solutions-based business and Bal Seal’s proprietary manufacturing and material science technologies to enhance its engineered products business and add scale to its operations.