Lost? Kaman Industrial Technologies (KIT) has your bearings. As the distribution arm of Kaman Corp., the company supplies more than three million industrial items, including bearings, motion control, mechanical and electrical power transmission parts, and material handling and fluid power products. KIT stocks hundreds of lines manufactured under such brands as Rockwell Automation and Sumitomo. The company also provides energy audits, predictive maintenance, and OEM parts conversion, and other services. KIT caters to maintenance, repair, and overhaul (MRO) and OEM customers in a range of industrial markets across North America via more than 230 branches and multiple regional distribution hubs.
Despite the recession's hit to customer demand, the distribution giant is getting bigger. It continues to acquire independent distributors that not only offset some of the decline in more volatile markets but position the company for an economic recovery. In mid-2010 the company purchased Minarik Corporation for about $39 million, the largest acquisition in KIT's history. Minarik distributes motion control and automation products -- many of them new lines for KIT -- to manufacturers in the US. Among its advantages, the deal gives KIT a larger geographic and marketplace presence as well as a stronger competitive position for winning national accounts (which tend to consolidate their purchases).
KIT acquired two businesses in early 2010: Tulsa, Oklahoma's Allied Bearing Supply Company and Mexico City, Mexico's Fawick de Mexico. Allied brings a complementary slate of bearings, power transmission, material handling, and industrial supplies, which builds up KIT's portfolio as well as leverages its fixed costs. The acquisition significantly extends the company's distribution reach across Oklahoma, Texas, and Arkansas, and improves KIT's access to customers the oil and gas, refinery, and drilling industries, as well as its traditional customer base in the steel, cement, paper, and food sectors. Fawick, a distributor of fluid power and lubrication products, tucks in with KIT's Mexican operations and adds an established sales force. – less