Kaman to acquire B.W. Rogers Co.
Kaman Industrial Technologies announced its agreement to acquire B.W. Rogers Company.
The acquisition significantly expands Kaman’s footprint in both fluid power and automation. The transaction is expected to close early in the second quarter.
Headquartered in Akron, Ohio, B.W. Rogers is a distributor of fluid power products, including hydraulic hoses, fittings, pumps, motors, cylinders, valves, pneumatics, machine control and automation products. The company is one of largest distributors of Parker Hannifin motion and control products and operates from 21 locations in seven states in the Northeast and Midwest.
B.W. Rogers’ branch network includes 20 authorized Parker locations, which contain 12 ParkerStores. In addition to Parker, B.W. Rogers also markets other manufacturers including Advantech, Phoenix Contact, and Wooster Hydrostatics to customers in a variety of industries such as steel, life sciences, food & beverage, power generation, shale gas, and automotive. The company was founded in 1928 by Bruce W. Rogers, and began distributing Parker products in 1947. B.W. Rogers is one of Parker’s longest standing distributors.
The transaction excludes operating assets and associated liabilities relating to the sale of certain products, tools, equipment, supplies, accessories and components to the automotive industry, which will continue to be owned and operated by B.W. Rogers. During 2013, B.W. Rogers had sales of approximately $113 million, approximately $12.5 million of which were attributable to the excluded assets.
"The acquisition of B.W. Rogers is the largest to date in our distribution segment and we are excited about the potential of our combined companies. This acquisition represents the next step in implementing our strategy to continue building scale and to develop a strong fluid power product platform, with Parker Hannifin as our leading supplier, and also an automation, control & energy product platform that we established with the prior acquisitions of Minarik and Zeller,” said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation. “Furthermore, the acquisition of B.W. Rogers demonstrates our commitment to provide a fully-developed network of sales and services in the mechanical, fluid power, motion control and automation technologies.”
Steve Smidler, president of Kaman Industrial Technologies, added, “We are pleased to welcome the strong management team and workforce of B.W. Rogers to the Kaman family. The commitment to service, technical expertise, system design and support complements our strategy perfectly. This acquisition also provides Kaman new industry exposure in the automotive and energy sectors. The B.W. Rogers business is highly contiguous with our prior acquisitions of Catching Fluidpower and Zeller, and as a result, we see significant synergy opportunities that will drive improved operating performance.
Following the close of the acquisition, Kaman will own one of the largest networks of ParkerStores with 30 locations across the U.S. and Puerto Rico.
Rick Rogers, president of B.W. Rogers added, “This combination is a tremendous opportunity for both companies and our employees. We have very little geographic and customer overlap, which will allow us to offer a broader portfolio of products and services to the customers of both companies. This will strengthen the value proposition we can deliver to customers and make more growth and development opportunities available to our employees as they join a much larger organization. Both companies are aligned culturally and my management team and I are looking forward to joining Kaman.”
Outside of Kaman’s fully authorized Parker locations, Kaman has been recognized as a national reseller of Parker hydraulics, fluid connector and automation products. Parker’s national recognition of Kaman as a value-added reseller allows Kaman to have full access to the Parker motion technologies portfolio of products across all of its more than 200 U.S. locations utilizing Parker’s Integrated Partners.
The acquisition is expected to close early in the second quarter.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
