Kaman Corp. acquires GRW Bearing
Kaman Corporation announced today that its Aerospace segment has acquired GRW Bearing GmbH (GRW), a German-based designer and manufacturer of super precision, miniature ball bearings.
GRW is focused on the miniature ball bearings market, where low noise requirements, extreme temperatures, ultra-high speeds and/or caustic environments require both exceptional engineering design and continuous operating performance capabilities. GRW operates out of two production facilities in Rimpar, Germany and Prachatice, Czech Republic, and is expected to have sales for the full year 2015 of approximately €48 million (Euros).
Kaman chairman, president and CEO Neal Keating said, “GRW adds additional scale and new market segments to our most profitable product lines, specialty bearings and engineered products. The businesses are aligned through a focus on solving the critical problems of OEM customers and achieving the highest standards of performance in the most demanding applications. I welcome the GRW team to Kaman.”
The purchase price was approximately €135.2 million ($142.9 million), net of cash acquired, and was funded through borrowings under the company’s revolving credit facility.
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