Kaman Corporation to acquire Parker-Hannifin Aircraft Wheel & Brake division

Kaman Corporation has entered into a definitive agreement with Parker-Hannifin Corporation (Parker), under which Kaman will acquire Parker’s aircraft wheel & brake division (Aircraft Wheel & Brake) for US$440 million (£349 million), subject to a customary working capital adjustment and the receipt of all necessary regulatory approvals.

Parker is divesting Aircraft Wheel & Brake in order to secure approval from certain governmental authorities in connection with Parker’s previously announced offer to acquire Meggitt PLC.

Aircraft Wheel & Brake has been a trusted provider of mission-critical wheel and brake technology products and solutions for more than eighty years. With a strong product portfolio supporting more than 100 platforms, Aircraft Wheel & Brake specialises in wheels, brakes and related hydraulic components for fixed-wing aircraft and rotorcraft. They have long-standing global relationships with leading military and general aviation customers providing customised proprietary designs, protected by intellectual property. Aircraft Wheel & Brake operates out of one centralised facility in Avon, Ohio, providing a full suite of capabilities including design, development and qualification, as well as manufacturing and assembly, product support and repairs.

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