Kaman acquires aerospace aftermarket supplier
Kaman Corporation's aerospace segment has acquired Timken Alcor Aerospace Technologies Inc. (TAAT) of Mesa, Ariz.
TAAT, which will be renamed “EXTEX Engineered Products Inc.,” designs and supplies aftermarket parts to support businesses conducting maintenance, repair, and overhauls (MROs) in aerospace markets primarily located in North America.
"TAAT nicely complements the aftermarket business of our Specialty Bearings & Engineered Products division. Our test and development capabilities will allow for expanded customer application solutions. In addition, strong sales channels with a global reach, combined with TAAT’s engineering expertise, and strong customer relationships provide significant synergy opportunities,” stated Robert Paterson, president, Kaman Specialty Bearings.
Kaman Corporation, executive vice president and chief financial officer, Robert Starr commented, “TAAT will be a great fit with our specialty bearing product lines. We expect the acquisition to be neutral to earnings per share in 2015, excluding one-time acquisition costs, and accretive in 2016.”
TAAT had annual sales of approximately $20 million in 2014.
INDUSTRIAL SUPPLY MAGAZINE
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