Kaman draws on revolver for aircraft wheel & brake purchase

By Sara Rosenberg

New York, Sept. 19 – Kaman Corp. used borrowings under its $800 million revolving credit facility and cash on hand to fund its acquisition of Parker-Hannifin Corp.’s aircraft wheel & brake division, according to an 8-K filed with the Securities and Exchange Commission on Monday.

Upon closing, Kaman paid $441.3 million in cash, including an estimated working capital adjustment of $1.3 million, for the acquisition. The cash consideration remains subject to final post-closing adjustments.

Kaman is a Bloomfield, Conn.-based provider of products and systems related to bearings, mechanical and electrical power transmission, automation & control, material handling, and fluid power for the MRO and OEM markets.

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