Kaman Industrial Technologies to Acquire Zeller Corp.
Kaman Corp. will acquire the assets of Zeller Corp. by its subsidiary Kaman Industrial Technologies Corp. (KIT). The acquisition is expected to close in the third quarter. Terms of the transaction were not disclosed.
Zeller is a value-added distributor of electrical and automation components and solutions, including motion control, programmable logic controller-based automation, machine vision, electrical controls and power distribution products. A premier Schneider Electric distribution partner, Zeller also represents other quality manufacturers including Kollmorgen, Phoenix Contact, Rittal and Sick. Zeller employs 240 people, including 60 degreed engineers, and has operations in Rochester, Syracuse and Buffalo, N.Y.; Foxboro, Mass.; and Winston-Salem, N.C. Zeller expects full-year 2012 sales of about $80 million.
"The acquisition of Zeller Corp. is a very exciting addition for Kaman and our KIT distribution business – it extends and expands our automation and motion control product segment to include electrical controls and power distribution," says Neal J. Keating, chairman, president and CEO of Kaman Corp. "Further, it demonstrates our commitment to growing our distribution network, enhancing our value-add solutions capabilities, and complementing our strong mechanical and fluid power product platforms. We are also excited to welcome the strong management team and workforce at Zeller, led by Gary Haseley to the Kaman family. The Zeller team will enhance our ability to serve our customers and will bring a number of new tools and capabilities to the Kaman organization."
|Last Updated on Friday, 17 August 2012 13:33|