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Arcline to Pay $1.8B for Aviation Company Kaman

Arcline to Pay $1.8B for Aviation Company Kaman

Private equity firm Arcline Investment Management will acquire aviation technology company Kaman Corp. in an approximately $1.8 billion all-cash take-private deal.

Kaman shareholders will receive $46 per share in cash, representing a 105% premium over the closing price at the end of trading last Thursday.

“Following robust engagement with Arcline and careful evaluation of other potential value creation opportunities, we are pleased to have reached this agreement,” said Ian K. Walsh, Kaman Chairman, president and CEO.

The Bloomfield, CT-based Kaman, founded in 1945 by aviator Charles Kaman, makes aerospace & defense components, including wheels, brakes and related hydraulic components for helicopters.

Arcline intends to fund the transaction through debt and equity. The transaction, which has been unanimously approved by the Kaman Board of Directors, is expected to close in the first half of 2024.

Kaman counts the U.S. military, Boeing, and defense firms Lockheed Martin and Raytheon as its customers.

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Arcline Investment ManagementKaman Corp.

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.