Kaman Corp. (NYSE: KAMN) is acquiring GRW Bearing Gmbh from Avedon Capital Partners. Financial terms were not disclosed.
GRW, based in Rimpar, Germany, makes metal bearings for the food and beverage, medical, aerospace and industrial sectors. The target has production facilities in Germany and the Czech Republic, and is expecting to finish 2015 with around $52 million in sales. Avedon invested in GRW in 2008.
Avedon is a Dusseldorf, Germany-based private equity that invests up to $30 million in equity. The firm focuses on the industrial, consumer, business services and software sectors.
“GRW will be a great addition to our specialty bearing and engineered products lines, and adds additional scale and new market segments to our most profitable products lines,” says Kaman CEO Neal Keating.
The acquisition of GRW follows up Kaman’s recent announcement to buy Timken Alcor Aerospace Technologies Inc. from industry counterpart Timken Co. (NYSE: TKR). Other recent metal part deals include: Imaginetics LLC, backed by PE firms Kidd & Co. and Centerfield Capital Partners purchasing Azmark Aerosystems LLC and Genstar-backed MW Industries agreeing to buy Servometer and BellowsTech.
Robert W. Baird is advising GRW.