Kaman Corporation announced it agreed to acquire Parker-Hannifin Corporation’s Aircraft Wheel & Brake division for $440 million. Aircraft Wheel & Brake specializes in wheels, brakes and related hydraulic components for fixed-wing aircraft and rotorcraft.
“We are executing on our strategic priority of growing through accretive M&A by expanding our Engineered Products segment by adding capabilities in markets that we know well. We are excited to add the experienced Aircraft Wheel & Brake management team to our organization while utilizing their leading proprietary technology and strong customer relationships,” Kaman Chairman, President and CEO Ian Walsh said.
Aircraft Wheel & Brake operates out of a centralized facility in Avon, Ohio. It provides a full suite of capabilities, including design, development and qualification, manufacturing and assembly, product support and repairs. This acquisition will broaden Kaman’s number of offerings and enhance its Engineered Products segment.