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19-Jan-2023
Of the MSNs issued by Kaman to date, the highest is #57, which includes one ground-test airframe.
Kaman had previously stopped production in 2004 after building 38 examples,
and did not restart the line until 2017
after receiving a batch of commitments which allowed them to reopen the line.
MAY 22, 2023
A recent investigation by the U.S. National Transportation Safety Board (NTSB)
determined that a servo flap failed before the catastrophic in-flight breakup of a K-Max helicopter,
but neither the manufacturer, Kaman,
nor the Federal Aviation Administration (FAA) has issued guidance on how to prevent such failures in the future.
Private-equity firm acquires aviation firm Kaman for $1.8 billion
Private-equity firm Arcline Investment Management
will acquire aviation technology company Kaman Corp.
in a roughly $1.8 billion all-cash deal, according to a Jan. 19, 2024, announcement.
Kaman will become a privately held company when the transaction is final, it notes.
“Over the last several quarters, we have made significant progress executing our strategy by transforming our portfolio,
through investing in innovation, pivoting to new growth technologies,
and optimizing the Company’s cost structure,” Ian Walsh, Kaman’s chief executive,
said in the company announcement.
“[W]e look forward to benefiting from increased resources, expertise and flexibility as a private company post-closing.”
Under the agreement, Kaman shareholders will receive $46 per share in cash, the company announcement said.
This price is roughly double Kaman’s closing share price on Jan. 18, 2024.
The Bloomfield, Connecticut-based Kaman, founded in 1945 by aviator Charles Kaman,
is known for its heavy-lift K-MAX manned helicopter,
which saw operations in an unmanned mode in Afghanistan in 2011.
Kaman also manufactures aircraft components and aerostructures for helicopters,
fixed-wing and unmanned aircraft
and has performed subcontract work to restore, modify and support
the SH-2G Seasprite maritime helicopters.
“Kaman has long been a trusted solutions provider of engineered components and subsystems of mission-critical markets and we believe the Company is in a strong position to grow and benefit from attractive tailwinds,” Arcline said in the statement.
“We look forward to working closely with Ian and the rest of the talented Kaman team to drive further growth through accelerated investments in both new product development and strategic acquisitions.”
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