Arcline Investment Management last Friday completed its $1.8 billion acquisition of Kaman Corp.
, taking the aerospace and defense company private.
Arcline paid Kaman stockholders $46 per share in cash. The acquisition was first announced in January.
“As we enter our next phase as a private company, we are confident that we will benefit from additional resources and expertise that will enable us to build upon our strong foundation and take full advantage of the hard work we have done these past several years to reposition the company,” Ian Walsh, chairman, president and CEO of Kaman, said in a statement. “This new partnership will accelerate our transformational strategy and drive significant growth, innovation and value to our customers.”
Kaman manufactures aircraft bearings, seals, wheels, brakes, aerostructures, fuses, and arming solutions. The company is developing the KARGO unmanned aircraft system for autonomous medium lift logistics.
Kaman had expected to report about $770 million in sales in 2023.