M&A Deal Summary

Kaman Acquires Parker-Hannifin Aircraft Wheel & Brake Division

On May 23, 2022, Kaman acquired aerospace company Parker-Hannifin Aircraft Wheel & Brake Division from Parker Hannifin for 440M USD

Acquisition Highlights
  • This is Kaman’s 4th transaction in the Aerospace sector.
  • This is Kaman’s largest (disclosed) transaction.
  • This is Kaman’s 13th transaction in the United States.
  • This is Kaman’s 1st transaction in Ohio.

M&A Deal Summary
Date 2022-05-23
Target Parker-Hannifin Aircraft Wheel & Brake Division
Sector Aerospace
Buyer(s) Kaman
Sellers(s) Parker Hannifin
Deal Type Divestiture
Deal Value 440M USD

Target

Parker-Hannifin Aircraft Wheel & Brake Division

Avon, Ohio, United States
Parker-Hannifin Aircraft Wheel & Brake Division is a provider of mission-critical wheel and brake technology products and solutions for more than eighty years. With a strong product portfolio supporting more than 100 platforms, Aircraft Wheel & Brake specializes in wheels, brakes and related hydraulic components for fixed-wing aircraft and rotorcraft. They have long-standing global relationships with leading military and general aviation customers providing customized proprietary designs, protected by intellectual property. Aircraft Wheel & Brake operates out of one centralized facility in Avon, Ohio, providing a full suite of capabilities including design, development and qualification, as well as manufacturing and assembly, product support and repairs.

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Buyer(S) 1

Buyer

Kaman

Bloomfield, Connecticut, United States

website

Category Company
Founded 1945
Sector Aerospace
Revenue 688M USD (2022)
DESCRIPTION

Kaman conducts business in the aerospace & defense, industrial, and medical markets. The company produces and markets proprietary aircraft bearings and components; super precision, miniature ball bearings; proprietary spring energized seals, springs, and contacts; wheels, brakes, and related hydraulic components for helicopters, fixed-wing, and UAV aircraft; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; safe and arming solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; restoration, modification, and support of its SH-2G Super Seasprite maritime helicopters; support of its heavy lift K-MAX manned helicopter; and development of the KARGO UAV unmanned aerial system, a purpose-built autonomous medium lift logistics vehicle. Kaman was formed in 1945 and is based in Bloomfield, Connecticut.

DEAL STATS #
Overall 19 of 19
Sector (Aerospace) 4 of 4
Type (Divestiture) 2 of 2
State (Ohio) 1 of 1
Country (United States) 13 of 13
Year (2022) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Bal Seal Engineering

Foothill Ranch, California, United States

Bal Seal Engineering, Inc. is a global provider of custom-engineered sealing, connecting, conducting, and EMI/RFI shielding solutions for worldwide industry. The company’s products employ unique Bal Spring® canted coil spring technology for enhanced performance and reliability. Bal Seal Engineering was formed in 1958 and is based in Foothill Ranch, California.

Buy $330M

Seller(S) 1

SELLER

Parker Hannifin

Cleveland, Ohio, United States

website

Category Company
Founded 1917
Sector Machinery
Employees50,520
Revenue 13.7B USD (2020)
DESCRIPTION
Entrance to Parker Hannifin's corporate headquarters in Cleveland, Ohio.
Entrance to Parker Hannifin's corporate headquarters in Cleveland, Ohio.

Parker-Hannifin is a diversified manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. Parker Hannifin was formed in 1917 and is based in Cleveland, Ohio.

DEAL STATS #
Overall 10 of 11
Sector (Aerospace) 2 of 2
Type (Divestiture) 10 of 11
State (Ohio) 5 of 5
Country (United States) 9 of 10
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-29 LORD

Drive Cary, North Carolina, United States

LORD Corporation is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices, and sensing technologies that significantly reduce risk and improve product performance. For more than 90 years, LORD has worked in collaboration with our customers to provide innovative oil and gas, aerospace, defense, automotive and industrial solutions.

Buy $3.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-02 Meggitt

Coventry, United Kingdom

Meggitt provides engineering group specialising in extreme environment components and smart sub-systems for aerospace, defence and energy markets. Meggitt was founded in 1947 and is based in Coventry, the United Kingdom.

Buy £6.3B
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