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Direct Investment  + M&As  |  January 24, 2024
Arcline to Pay $1.8B for Aviation Company Kaman
Joe Palmisano
By: Joe Palmisano

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 of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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