MOTION CONTROL: Kaman Corp. announced that its subsidiary Kaman Industrial Technologies Corp. has acquired Minarik Corp. The transaction closed on April 30, 2010 and Minarik is now part of Kaman’s Industrial Distribution Segment.
Minarik, founded in 1952, is a national distributor of motion control and automation products. The company has one of the most complete offerings in the industry including many of the leading brands of sensors, drives, motors and automation control products serving U.S. manufacturers.
Headquartered in Glendale, California, Minarik operates from sixteen branch locations in many of the high tech manufacturing markets in the U.S. The company, which was acquired for a purchase price of $39 million, generated sales of approximately $84 million during the year ended December 31, 2009.
KIT is the third largest distributor of power transmission and motion control products in North America. The company operates nearly 200 branches, distribution centers and customer service centers across the U. S., Canada, Mexico, and Puerto Rico. It offers approximately three million items as well as value-added services to a base of about 50,000 customers representing a highly diversified cross section of North American industry. Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets.
-Edited by Kelsey Anderson