Kaman Corp. of Bloomfield said Dec. 10 it has agreed to acquire Plastic Fabricating Co. Inc., a maker of composite parts and assemblies for the aerospace industry.
Kaman is buying PlasticFab from private equity investor HIG Capital LLC of Miami for undisclosed terms. The firms expect to close the deal by the end of the year.
The purchase will complement Kaman's polymer-matrix-composite and metal-bonding operations, Paul R. Kuhn, Kaman president and chief executive officer, said in a news release.
PlasticFab employs about 150, expects 2001 sales to exceed $14 million and occupies a 150,000-square-foot facility in Witchita, Kan. The company, founded in 1948, supplies engineered composites, plastic components and complex assemblies for commercial and military aerospace applications.
Nasdaq-traded Kaman has aerospace, industrial distribution and music distribution businesses and recorded sales of $922 million for the four quarters ended Sept. 30.