Kaman Corporation (NYSE: KAMN) today announced that its Distribution Segment (Kaman) has signed a definitive agreement to acquire Western Fluid Components, Inc. (Western), to further expand its fluid power position in the Northwest. Western is one of the largest fluid connector distributors in Washington and a full-line distributor for Parker Hannifin’s Fluid Connector Group. Headquartered in Everett, Western is a distributor of hydraulic, pneumatic and industrial hose, tubing, fittings plus related accessories. Terms of the sale were not disclosed.
Founded in 1975, Western, with annual sales of approximately $11 million, operates from four locations in Tacoma, Kirkland, Everett and Bellingham, Washington with a team of 20 employees. Western also provides hydraulic and industrial hose assemblies, custom kits and value-added services through its four Parker Store retail locations and sells to a wide variety of industries such as the marine, wood products, aerospace, agriculture, mobile equipment and industrial markets. The addition of Western expands Kaman’s growing Parker Store network to 17.
“The acquisition of Western is a continuation of our strategy to build a strong fluid power position and furthers our relationship and authorizations with our primary supplier, Parker Hannifin. We see significant growth opportunities and synergies with Western and our previously announced acquisition of Northwest Hose & Fittings. Western is a strong company with a high focus on customer service and we are thrilled to have them as part of the Kaman family.” said Steven J. Smidler, President of Kaman Distribution.
Neal J. Keating, Chairman, President and Chief Executive Officer of Kaman Corporation, added, “We have announced three acquisitions within our Distribution Segment so far this year and each meets our strategic objectives of growing our core business platforms as well as expanding our geographic footprint. We expect to remain active in building our distribution business and acquiring well run companies like Western Fluid Components that will help us win in a competitive marketplace.”
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