BLOOMFIELD, Conn. — A Connecticut company known for its helicopters has agreed to be acquired by a private equity firm for nearly $2 billion, it was announced Friday.
Kaman Corp. said it has signed an agreement to be acquired by Arcline Investment Management, L.P. In a press release announcing the acquisition, Arcline is described as a growth-oriented private equity firm with deep experience investing in technology-driven, industrial businesses. The all-cash transaction is valued at approximately $1.8 billion. When completed, Kaman will become a privately held company.
“Arcline recognizes the strength of Kaman’s leadership and team, product portfolio and outstanding employees, and we look forward to benefitting from increased resources, expertise and flexibility as a private company post-closing.,” said Ian K. Walsh, Kaman Chairman, President and Chief Executive Officer.
Kaman has more than 3,000 employees based in over 50 countries around the world. Their headquarters are in Bloomfield. Founded in 1945 by Charles Kaman, they originally focused on building helicopters but expanded into aerospace and commercial parts. Known for their helicopters that provide heavy lifting, Kaman’s K-Max helicopter lifts over 6,000 pounds and has been widely used in fighting wildfires.
Doug Stewart is a Senior Digital Content Producer at FOX61 News. He can be reached at firstname.lastname@example.org.
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