Kaman Corporation announced that its distribution segment (Kaman) has signed a definitive agreement to acquire Western Fluid Components Inc., with the aim of further expanding its fluid power business in the Northwest United States.
Western is one of the largest fluid connector distributors in Washington and a full-line distributor for Parker Hannifin’s Fluid Connector Group. Headquartered in Everett, Wash., Western is a distributor of hydraulic, pneumatic and industrial hose, tubing, fittings plus related accessories.
Founded in 1975, Western, with annual sales of approximately $11 million, operates from four locations in Tacoma, Kirkland, Everett and Bellingham, Wash. with a team of 20 employees.
Western also provides hydraulic and industrial hose assemblies, custom kits, and value-added services through its four Parker Store retail locations and sells to a wide variety of industries, such as the marine, wood products, aerospace, agriculture, mobile equipment and industrial markets. The addition of Western expands Kaman’s growing Parker Store network to 17.
“The acquisition of Western is a continuation of our strategy to build a strong fluid power position and furthers our relationship and authorizations with our primary supplier, Parker Hannifin. We see significant growth opportunities and synergies with Western and our previously announced acquisition of Northwest Hose & Fittings. Western is a strong company with a high focus on customer service, and we are thrilled to have them as part of the Kaman family.” said Steven J. Smidler, president of Kaman Distribution.
Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation, added, “We have announced three acquisitions within our Distribution Segment so far this year and each meets our strategic objectives of growing our core business platforms as well as expanding our geographic footprint. We expect to remain active in building our distribution business and acquiring well run companies like Western Fluid Components that will help us win in a competitive marketplace.”
Steve Favorite, president of Western stated, “I am excited to have our organization join the Kaman team as a key component of their fluid power platform growth strategy. We see great opportunities to better support customers with all of the value added services Kaman offers in addition to our core Parker products.”