Home Private Equity Kaman stock up 100% as it agrees to go private for $1.8B

Kaman stock up 100% as it agrees to go private for $1.8B

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By Steve Gelsi

Stock rallies as private-equity firm Arcline agrees to pay $46 a share for aerospace firm

Kaman Corp.’s stock doubled Friday after it agreed to be taken private by Arcline Investment Management in a deal valued at $1.8 billion.

Kaman, based in Bloomfield, Conn., said it agreed to a price of $46 per share, a 105% premium over its closing share price on Thursday.

The company’s stock (KAMN) jumped 100.9% to close at $45.05 on Friday.

The transaction for the aerospace- and defense-components company is expected to close in the first half of this year.

Kaman Chief Executive Ian K. Walsh said the deal followed a “robust engagement with Arcline and careful evaluation of other potential value creation opportunities.”

The company recently completed a “rigorous” review of alternatives and its board remains “confident this transaction maximizes value for shareholders,” he said.

Before Friday’s moves, Kaman Corp.’s KAMN stock had fallen by 1.8% in the past year, compared to a 22.6% increase by the S&P 500 SPX

-Steve Gelsi

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01-19-24 1636ET

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