M&A Deal Summary

Littlejohn Acquires Kaman Distribution

On June 26, 2019, private equity firm Littlejohn acquired distribution company Kaman Distribution from Kaman for 700M USD

Acquisition Highlights
  • This is Littlejohn’s 5th transaction in the Distribution sector.
  • This is Littlejohn’s largest (disclosed) transaction.
  • This is Littlejohn’s 49th transaction in the United States.
  • This is Littlejohn’s 1st transaction in Connecticut.
Investment Fate
  • Kaman Distribution was sold to a strategic buyer in 2021 for 1.3B USD.

M&A Deal Summary
Date 2019-06-26
Target Kaman Distribution
Sector Distribution
Buyer(s) Littlejohn
Sellers(s) Kaman
Deal Type Divestiture
Deal Value 700M USD

Target

Kaman Distribution

Bloomfield, Connecticut, United States
website
Kaman Distribution is a distributor of more than six million items including automation, motion control, electro-mechanical, bearings, power transmission, fluid power components, as well as MRO supplies, to customers in virtually every industry. Kaman Distribution was founded in 1971 and is based in Bloomfield, Connecticut.

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Buyer(S) 1

Buyer

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $250 million of equity, mezzanine, or credit capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 53 of 64
Sector (Distribution) 5 of 6
Type (Divestiture) 4 of 4
State (Connecticut) 1 of 1
Country (United States) 49 of 60
Year (2019) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-09 Outcome Health

Chicago, Illinois, United States

Outcome Health’s mission is to activate health outcomes through technologies that change behavior to positively shape the human condition. The Company serves health information and health intelligence during critical moments of care to enable patients and physicians to make the best healthcare decision possible. Outcome Health was formed in 2006 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-21 Interstate Waste Services

Teaneck, New Jersey, United States

Interstate Waste Services is a provider of solid waste collection, transfer, recycling, and disposal services serving. Interstate Waste Services is based in Teaneck, New Jersey.

Buy -

Seller(S) 1

SELLER

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 4 of 4
Sector (Distribution) 2 of 2
Type (Divestiture) 4 of 4
State (Connecticut) 2 of 2
Country (United States) 3 of 3
Year (2019) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-09 Gebr. Reinfurt KG

Rimpar, Germany

GRW is a designer and manufacturer of custom engineered high precision miniature ball bearing solutions. GRW has a comprehensive product offering of several thousand different variants that are designed to meet specific customer application requirements in the Healthcare, Aviation & Defense, Drive Systems & Analysis and Industrial & Distribution end-markets.

Buy -
FOLLOWING 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
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