Kaman plans new debt financing for purchase by Arcline Investment

By Sara Rosenberg

New York, Jan. 19 – Kaman Corp. has received a commitment for debt financing to help fund its acquisition by Arcline Investment Management LP, according to an 8-K filed with the Securities and Exchange Commission on Friday.

Morgan Stanley Senior Funding Inc. provided the debt commitment.

Other funds for the buyout will come from equity.

Under the agreement, Kaman is being bought for $46.00 per share in cash. The transaction has a total enterprise value of about $1.8 billion.

Closing is expected in the first half of this year, subject to customary conditions, including approval by Kaman shareholders and receipt of required regulatory approvals.

Kaman is a Bloomfield, Conn.-based OEM and producer of subassemblies, components and parts for the aerospace & defense, industrial and medical markets.

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