Mon, Nov 15, 2010
Deal Expected To Close In Early December
Kaman Corporation has agreed to acquire Global Aerosystems, LLC
(“Global”) of Everett, Washington, a provider of
aerostructure engineering design analysis and FAA certification
services to the aerospace industry.
"We are pleased to welcome the employees of Global Aerosystems
to Kaman and we look forward to working together to offer expanded
capabilities to the aerospace industry," said Greg Steiner,
President of the Kaman Aerospace Group, in a news release Thursday.
"The Global workforce of more than 120 aerospace engineers is
widely respected in the fields of aircraft design and stress
analysis. Kaman has been a quality supplier of aerostructure
components, assemblies, and subassemblies for more than fifty
years. Together, we can now provide seamless services, from
origination and concept design through component manufacturing,
assembly, certification and post production support. Combined we
will be able to take on responsibility for engineering design and
production of aerostructure assemblies to produce both metallic and
composite component fabrications and subassemblies.”
“Chuck Rhoden, President and Chief Executive Officer at
Global Aerosystems and his team have provided critical engineering
and design services to Boeing and we look forward to working to
expand this valuable teaming relationship with this important
customer," added Neal Keating, Chairman, President and Chief
Executive Officer of Kaman Corporation. The acquisition of Global
represents Kaman’s fourth acquisition in 2010 and continues
our effort to add critical skill-sets and capabilities that will
allow us to accelerate our organic growth and deliver more value
added services to support our customers.”
Global, an employee-owned firm, is expected to have sales in
2010 of approximately $20 million. The company is a supplier of
engineering and design services to Boeing and Kawasaki Heavy
Industries. Other customers include Mitsubishi Aircraft
Corporation, Mitsubishi Heavy Industries, Bombardier, Aviation
Partners Boeing and the Department of Defense. The transaction is
expected to close on or about December 10, 2010. Exvere, Inc. acted
as financial advisor to Global. Terms were not disclosed.
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