Kaman Industrial Technologies (KIT), a subsidiary of Kaman, has acquired Miami, Florida-based Florida Bearings, a distributor of bearings, pump and power transmission products.
In addition to distributing bearings and other products, Florida Bearings delivers value-added services, including pump, gearbox and motor repair and predictive maintenance to a wide range of industries, such as aggregate, food, municipal, wastewater and water. The company also has locations in Orlando, Riviera Beach, Lauderdale and Hialeah.
The Florida-based firm will be integrated into Kaman’s Industrial Distribution division. Steve Smidler, KIT’s President, stated that they are happy to acquire Florida Bearings, as it has a good reputation for technical excellence, excellent customer service, strong customer relationships and dedicated employees. Thus, Florida Bearings is a perfect fit for the KIT business. The acquisition offers them a strong position in southern and central Florida, and also increases their exposure to major end markets, added Smidler.
Bruce Marchetti, President of Florida Bearings, commented that the expansion of their current offerings with the addition of Kaman’s wide range of fluid power, electrical and conveying products will provide a growth opportunity for them to become a major supplier in the central and southern Florida markets.
Kaman distributes over four million products, including bearings, fluid power, motion control, material handling, mechanical power transmission and MRO supplies to various industries. In addition, the company produces and markets proprietary aircraft bearings and components; and complex metallic and composite aerostructures for military, general aviation and commercial fixed and rotary wing aircraft.
Source: http://www.kaman.com/