Sale to Kaman Corporation

Industrial
Sale to Kaman Corporation

Summary

Baird served as the exclusive financial advisor to Avedon Capital Partners on this transaction.

About

Kaman Corporation (“Kaman”) (NYSE:KAMN) recently acquired GRW Bearing GmbH (“GRW”), a portfolio company of Avedon Capital Partners (“Avedon” or the “company”). Terms of the transaction were not disclosed.

GRW is a global technology leader in the design and manufacturing of custom engineered high precision miniature ball bearing solutions. GRW has a comprehensive product offering of several thousand different variants that are designed to meet specific customer application requirements in the Healthcare, Aviation & Defense, Drive Systems & Analysis and Industrial & Distribution end-markets. With over 550 employees and two state-of-the-art production facilities in Rimpar, Germany and Prachatice, Czech Republic, GRW has a competitive advantage in supplying tailored high precision miniature ball bearings solutions. GRW is headquartered in Rimpar, Germany.

Avedon Capital Partners is an independent investment company with offices in Düsseldorf, Germany and Amsterdam, the Netherlands that provides growth capital and expertise to support entrepreneurial management teams with distinctive and ambitious growth plans. Through dedicated industry studies, Avedon focuses on niches within the following four sectors: (i) industrial & engineering (ii) software & technology, (iii) business services and (iv) consumer & leisure. Since 2003 the team has invested in 18 growth capital transactions with a strong realized track record. The value creation by the management teams is supported by Avedon with strategic direction setting, building great management teams, early problem spotting and exit positioning. Avedon is headquartered in Amsterdam, the Netherlands.

Kaman, founded in 1945, conducts business in the aerospace and industrial distribution markets. The company produces and markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the United States and allied militaries; design and supply of aftermarket parts to MRO aerospace markets; K-MAX® medium to heavy lift helicopters; and support for the company's SH-2G Super Seasprite maritime helicopters and K-MAX® aircraft. In addition, the company is a leading distributor of industrial parts, and operates more than 200 customer service centers and five distribution centers across the United States and Puerto Rico. Kaman offers more than four million items including bearings, mechanical power transmission, electrical, material handling, motion control, fluid power, automation and MRO supplies to customers in virtually every industry. Also, Kaman provides engineering, design and support for automation, electrical, linear, hydraulic and pneumatic systems as well as belting and rubber fabrication, customised mechanical services, hose assemblies, repair, fluid analysis and motor management. Kaman is headquartered in Bloomfield, Connecticut.

For additional information about this transaction, please contact:

Nick Sealy +44 20 7667 8370
Michael Wolff +49 69 1301 4949
Joe Packee +1 414 298 7644
David Schreiter +44 20 7667 8221
David Silver +44 20 7667 8216
Satoshi Matsumoto +1 646 557 3201
Industrial
Sale to Kaman Corporation
Date
November 2015
Company
GRW Bearing GmbH
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
North America

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