A Kaman Corporation subsidiary has an agreement to buy Timken Alcor Aerospace Technologies, an aftermarket supplier to the aerospace MRO sector. The principals did not detail the value of the transaction, which is scheduled to close this month.
Kaman manufacturers and supplies aircraft bearings and components, and metallic and composite aerostructures for commercial, military, and general aviation fixed- and rotary-wing aircraft. The company indicated the Timken business offers organic growth opportunities to Kaman, as well as strong business relationships with aerospace engine MROs and fleet operators of helicopters and fixed-wing aircraft.
TAAT is a Mesa, Ariz., business that designs and supplies aftermarket parts to businesses conducting maintenance, repair, and overhauls for commercial aerospace operators. More than a year ago, Timken announced plans to sell the business as it restructured its Aerospace operations.
That project involved closing a specialty parts manufacturing operation in 2014. The Arizona plant was developed as a specialty center of parts manufacturing for aerospace engine repairs and refurbishment, including an investment casting foundry for turbine blades, vanes, nozzles, and turbine-engine hardware that started up late in 2006.
"This is a solid company that nicely complements the aftermarket business of our Specialty Bearings & Engineered Products division," stated Greg Steiner, president of Kaman Aerospace Group. He added that TAAT has demonstrated consistent financial performance and its engineered products complement Kaman’s current offerings.