Timken has divested Timken Alcor Aerospace Technologies to Kaman

Timken has divested Timken Alcor Aerospace Technologies to Kaman 2017-04-26T19:47:04+00:00

Project Description

The Timken Company (NYSE: TKR) has divested its subsidiary company Timken Alcor Aerospace Technologies, Inc. (“TAAT”) to Kaman Corporation (NYSE: KAMN). Headquartered in Mesa, Arizona, TAAT is a designer and supplier of aftermarket parts for fixed wing aircraft and helicopters and sells to support businesses conducting maintenance, repair, and overhauls in the aerospace market. TAAT will become part of the Specialty Bearings & Engineered Products division of Kaman Aerospace Group.

Important factors in Kaman’s decision to acquire TAAT from Timken include organic growth opportunities, the robust quality system, engineering expertise, and strong relationships with engine MROs and fleet operators. Kaman expects TAAT to achieve further growth through Kaman’s strong global sales channels.

Greg Steiner, President of Kaman Aerospace Group commented, “This is a solid company that nicely complements the aftermarket business of our Specialty Bearings & Engineered Products division. TAAT has demonstrated consistent financial performance and offers engineered products that are adjacent and complementary to Kaman’s current offerings.” Robert Paterson, head of the Kaman Specialty Bearings & Engineered Products division, also commented, “TAAT will be a great fit with our current engineered parts business and has the potential for significant product and market synergies. The operations will remain in Mesa with the current management team and employee base. Global expansion of the product line will be a key focus of our growth strategy for TAAT.”

Headquartered in Bloomfield, Connecticut, Kaman is a manufacturer and provider of aircraft bearings and components; aerostructures, engineering services; safe and arm solutions for missile and bomb systems, medium to heavy lift helicopters; and support services. The company is also a leading distributor of industrial and automation parts, components and systems.

Philpott Ball & Werner, LLC (“PB&W”) served as exclusive investment banker to Timken. For more information about this transaction, please contact Ted Werner at twerner@pbandw.com or Luke Korta at lkorta@pbandw.com.