Kaman Buys Bal Seal
Kaman buys Bal Seal.
Kaman buys Bal Seal Engineering for $330 million.
Bal Seal is a leader in the design, development, and manufacturing of precision springs, seals, and contacts. With a platform of 240 patents across its proprietary manufacturing and material technologies, Bal Seal specializes in delivering critical components to customers in the medical technology, aerospace and defense, and industrial end markets. They are an established global presence, with manufacturing, sales, and distribution operations across the US, Europe, and Asia.
Neal Keating of Kaman said: ‘Following the recent sale of our distribution business, Kaman’s strategic focus has centered on growing our highly engineered products business, enhancing margins, and driving free cash flow generation. This complementary acquisition of Bal Seal will advance all three objectives by expanding the breadth of our product offering, increasing our exposure to attractive high growth markets, and driving meaningful near-term margin and cash flow accretion. We are especially excited to add the strong Bal Seal management team to our organization while leveraging their leading proprietary technology, breadth of products, and strong customer relationships.’
Rick Barnhart of Kaman Aerospace Group said: ‘Like Kaman, Bal Seal prides itself on its outstanding product quality, strong leadership and employee talent, and an unrelenting commitment to innovation. We believe our similar cultures and customer-centric approaches make our organizations an excellent and highly complementary match. We are excited for Bal Seal employees to join the Kaman team and work together to build strong alliances with our customers.’
Rick Dawson of Bal Seal said: ‘The combination of Bal Seal and Kaman is a compelling opportunity for Bal Seal, our employees, and all our stakeholders. We look forward to leveraging Kaman’s scale, resources, and complementary capabilities to further extend our leadership positions and penetrate new markets with our combined offerings. We have known and respected the team at Kaman for years and view them as ideal partners to help unlock the full potential of Bal Seal. We are excited to work with the Kaman team to ensure smooth integration and capitalize on exciting new opportunities for growth.’
JP Morgan served as financial advisor to Kaman. Skadden, Arps, Slate, Meagher & Flom served as legal advisor.
William Blair & Company served as financial advisor to Bal Seal. Pillsbury Winthrop Shaw Pittman served as legal advisor.
Kaman buys Bal Seal Engineering for $330 million.
Bal Seal is a leader in the design, development, and manufacturing of precision springs, seals, and contacts. With a platform of 240 patents across its proprietary manufacturing and material technologies, Bal Seal specializes in delivering critical components to customers in the medical technology, aerospace and defense, and industrial end markets. They are an established global presence, with manufacturing, sales, and distribution operations across the US, Europe, and Asia.
Neal Keating of Kaman said: ‘Following the recent sale of our distribution business, Kaman’s strategic focus has centered on growing our highly engineered products business, enhancing margins, and driving free cash flow generation. This complementary acquisition of Bal Seal will advance all three objectives by expanding the breadth of our product offering, increasing our exposure to attractive high growth markets, and driving meaningful near-term margin and cash flow accretion. We are especially excited to add the strong Bal Seal management team to our organization while leveraging their leading proprietary technology, breadth of products, and strong customer relationships.’
Rick Barnhart of Kaman Aerospace Group said: ‘Like Kaman, Bal Seal prides itself on its outstanding product quality, strong leadership and employee talent, and an unrelenting commitment to innovation. We believe our similar cultures and customer-centric approaches make our organizations an excellent and highly complementary match. We are excited for Bal Seal employees to join the Kaman team and work together to build strong alliances with our customers.’
Rick Dawson of Bal Seal said: ‘The combination of Bal Seal and Kaman is a compelling opportunity for Bal Seal, our employees, and all our stakeholders. We look forward to leveraging Kaman’s scale, resources, and complementary capabilities to further extend our leadership positions and penetrate new markets with our combined offerings. We have known and respected the team at Kaman for years and view them as ideal partners to help unlock the full potential of Bal Seal. We are excited to work with the Kaman team to ensure smooth integration and capitalize on exciting new opportunities for growth.’
JP Morgan served as financial advisor to Kaman. Skadden, Arps, Slate, Meagher & Flom served as legal advisor.
William Blair & Company served as financial advisor to Bal Seal. Pillsbury Winthrop Shaw Pittman served as legal advisor.
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