Kaman to acquire Northwest Hose & Fittings
Kaman Industrial Technologies signed a definitive agreement to acquire substantially all the assets of Northwest Hose & Fittings Inc. based in Spokane, Wash.
The transaction is expected to close in the next few weeks. Terms were not disclosed.
Northwest Hose & Fittings, founded in 2000, is an authorized Parker distributor of hydraulic hose, fittings, adapters as well as couplers and industrial hose to a diverse group of industries such as the metals, agricultural, industrial machinery and equipment industries. The company also has locations in Yakima and Moses Lake, Wash., and Coeur d’Alene, Idaho, and operates Parker Stores at all of its locations. Annual sales for 2013 are expected to be approximately $8 million.
“We are pleased that we have been able to expand our strategic relationship with Parker through the acquisition of Northwest Hose & Fittings. Not only does the company have a strong presence in several key markets that Kaman did not previously serve, they also have an excellent customer service ethic and technical expertise that should add nicely to our fluid power product platform. We expect excellent growth opportunities from the synergies of our product lines and customer bases,” said Steve Smidler, president of Kaman Industrial Technologies.
John Olson, president of Northwest Hose stated, “We are thrilled to be joining a dynamic company like Kaman. We see tremendous growth and expansion opportunities throughout the Pacific Northwest and our product knowledge and reputation will match well with Kaman’s strategy of customer service and technical excellence.”
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.
