M&A Deal Summary

Littlejohn Acquires Kaman Distribution

On June 26, 2019, private equity firm Littlejohn acquired distribution company Kaman Distribution from Kaman for 700M USD

Acquisition Highlights
  • This is Littlejohn’s 5th transaction in the Distribution sector.
  • This is Littlejohn’s largest (disclosed) transaction.
  • This is Littlejohn’s 49th transaction in the United States.
  • This is Littlejohn’s 1st transaction in Connecticut.
Investment Fate
  • Kaman Distribution was sold to a strategic buyer in 2021 for 1.3B USD.

M&A Deal Summary
Date 2019-06-26
Target Kaman Distribution
Sector Distribution
Buyer(s) Littlejohn
Sellers(s) Kaman
Deal Type Divestiture
Deal Value 700M USD

Target

Kaman Distribution

Bloomfield, Connecticut, United States
website
Kaman Distribution is a distributor of more than six million items including automation, motion control, electro-mechanical, bearings, power transmission, fluid power components, as well as MRO supplies, to customers in virtually every industry. Kaman Distribution was founded in 1971 and is based in Bloomfield, Connecticut.

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Buyer(S) 1

Buyer

Littlejohn

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1996
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Littlejohn & Co. is a private equity firm that makes control investments in mid-sized companies undergoing change; either in capital structure, strategy, operations, or growth. Littlejohn looks to commit $50 to $150 million of equity capital in companies with annual revenues of $100 to $800 million. Sectors of interest include industrial equipment, packaging, chemicals, automotive and transportation parts and equipment, food and food processing, healthcare, plastics, aerospace/defense, distribution, environmental and infrastructure services, and consumer products. The Firm avoids investing in real estate, fashion, retail, and businesses engaged in high technology. Littlejohn prefers opportunities located in the US, but also considers opportunities in Europe and Canada. Littlejohn & Co. was formed in 1996 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 53 of 61
Sector (Distribution) 5 of 6
Type (Divestiture) 4 of 4
State (Connecticut) 1 of 1
Country (United States) 49 of 57
Year (2019) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-09 Outcome Health

Chicago, Illinois, United States

Outcome Health’s mission is to activate the best health outcome possible for every person in the world through technologies that change behavior to positively shape the human condition. The company serves health information and health intelligence during critical moments of care to enable patients and physicians to make the best healthcare decision possible. The company, founded in 2006 by Rishi Shah and Shradha Agarwal, partners with 231,000 healthcare providers nationwide to impact 500 million patient visits annually.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-03 Benevis

Marietta, Georgia, United States

Benevis provides various non-clinical services to group dental practices, including providing dental facilities, support staff, and other business services. Kool Smiles and Resolution Dental are the firm’s two major clients. Kool Smiles is a nationally-branded provider of dental care focused primarily on children enrolled in Medicaid and State Children's Health Insurance Programs. The limited access to care for children on Medicaid/SCHIP plans provides an attractive growth opportunity for Kool Smiles as it continues to expand offices with a mission to provide quality care to this underserved population. Benevis was founded in 2002 and is based in Marietta, Georgia.

Sell -

Seller(S) 1

SELLER

Kaman

Bloomfield, Connecticut, United States

website

Category Company
Founded 1945
Sector Aerospace
Employees2,846
Revenue 709M USD (2021)
DESCRIPTION

Kaman conducts business in the aerospace and industrial distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; and support for the company's SH-2G Super Seasprite maritime helicopters and K-MAX medium-to-heavy lift helicopters. Kaman was founded in 1945 and is based in Bloomfield, Connecticut.

DEAL STATS #
Overall 4 of 4
Sector (Distribution) 2 of 2
Type (Divestiture) 4 of 4
State (Connecticut) 2 of 2
Country (United States) 3 of 3
Year (2019) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-09 Gebr. Reinfurt KG

Rimpar, Germany

GRW is a designer and manufacturer of custom engineered high precision miniature ball bearing solutions. GRW has a comprehensive product offering of several thousand different variants that are designed to meet specific customer application requirements in the Healthcare, Aviation & Defense, Drive Systems & Analysis and Industrial & Distribution end-markets.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Bal Seal Engineering

Foothill Ranch, California, United States

Bal Seal Engineering, Inc. is a global provider of custom-engineered sealing, connecting, conducting, and EMI/RFI shielding solutions for worldwide industry. The company’s products employ unique Bal Spring® canted coil spring technology for enhanced performance and reliability. Bal Seal Engineering was formed in 1958 and is based in Foothill Ranch, California.

Buy $330M
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