Kaman Corporation (NYSE:KAMN) today announced that its Distribution Segment, Kaman Distribution Group (Kaman), has executed a definitive agreement to acquire substantially all the operating assets of B.W. Rogers Company and certain affiliated entities (collectively, B.W. Rogers). The acquisition significantly expands Kaman’s footprint in both fluid power and automation. The transaction is expected to close early in the second quarter.
B.W. Rogers is a broad line distributor of fluid power products, including hydraulic hoses, fittings, pumps, motors, cylinders, valves, pneumatics, machine control and automation products. B.W. Rogers is one of largest distributors of Parker Hannifin (Parker) motion and control products and operates from twenty-one locations in seven states from the Northeast to the Midwest. B.W. Rogers’ branch network includes twenty authorized Parker locations, which contain twelve ParkerStores. In addition to Parker, B.W. Rogers also markets other premium manufacturers including Advantech, Phoenix Contact, and Wooster Hydrostatics to customers in a variety of industries such as steel, life sciences, food & beverage, power generation, shale gas, and automotive. Based in Akron, Ohio, B.W. Rogers was founded in 1928 by Bruce W. Rogers, and began distributing Parker products in 1947. B.W. Rogers is one of Parker’s longest standing distributors.
The transaction excludes operating assets and associated liabilities relating to the sale of certain products, tools, equipment, supplies, accessories and components to the automotive industry, which will continue to be owned and operated by B.W. Rogers. During 2013, B.W. Rogers had sales of approximately $113 million, approximately $12.5 million of which were attributable to the excluded assets.
"The acquisition of B.W. Rogers is the largest to date in our distribution segment and we are excited about the potential of our combined companies. This acquisition represents the next step in implementing our strategy to continue building scale and to develop a strong fluid power product platform, with Parker Hannifin as our leading supplier, and also an automation, control & energy product platform that we established with the prior acquisitions of Minarik and Zeller. Together, we will enhance our ability to serve our customers with an expanded portfolio of products as well as a number of new services and capabilities,” stated Neal J. Keating, Chairman, President and Chief Executive Officer of Kaman Corporation. “Furthermore, the acquisition of B.W. Rogers demonstrates our commitment to provide a fully-developed network of sales and services in the mechanical, fluid power, motion control and automation technologies.”