Kaman acquires Industrial Supply Co.
Industrial distributor expands footprint with MRO acquisition
By Susan Avery -- Purchasing, 3/13/2008 9:48:00 AM
Kaman Industrial Technologies in Bloomfield, Conn., has signed a definitive agreement to acquire Industrial Supply Co. in Richmond, Va.
Kaman, a distributor of power transmission and motion control products in North America, places at number 17 on Industrial Distribution magazine’s Big 50 list for 2007. The company operates nearly 200 branches, distribution centers and customer service centers across the U.S., Canada and Mexico, and offers approximately 3 million items as well as value added services.
ISC, founded in 1933, is a distributor of power transmission, fluid power, material handling and industrial MRO supply products to such industries as ship building, printing, machinery, transportation, electronics, pharmaceutical, rubber, chemicals and food processing. In addition to its Richmond facility, it has five branches located in Norfolk, Roanoke and Waynesboro, Va., and in Wilson and High Point, N.C. The company has annual sales of approximately $55 million.
“This acquisition supports our corporate strategy of accelerating the growth of KIT by expanding our geographic footprint in major industrial markets throughout North America,” says Neal J. Keating, chairman, president and CEO of Kaman Corp. “It will provide Kaman access to new markets, expand our offering of products and services and increase our capability to service major national and regional customers.”
Terms of the agreement were not disclosed. The transaction is expected to be completed on or about March 31.
See also: Kaman Industrial Technologies launches new website
Now Playing: 