Vermont Composites is expected to generate sales of US$32 million for 2011. It has approximately 230 employees.
Vermont is involved in a number of major aerospace platforms including V-22 Osprey, P-8 Poseidon, C-130 Hercules, MH-60 BLACK HAWK and various unmanned aerial vehicles (UAVs).
According to Gregory L. Steiner, President of Kaman Aerospace Group, the acquisition of Vermont advances the strategy of Kaman's composites business.
"Vermont Composites has developed a reputation as an innovative, leading-edge technology company," Steiner says. "They have demonstrated solid growth and bring strong relationships with prime manufacturers. The acquisition accelerates our overall growth, further diversifies our platform positions, and enhances our standing in the higher-growth markets for composite structures, particularly in the intelligence, surveillance and reconnaissance sectors."
The Vermont Composites senior management team, including its President and CEO Patrick J. Wheeler, will join Kaman.
The transaction is expected to close in early November.
Bloomfield, Connecticut, headquartered Kaman Aerospace, part of Kaman Corporation, produces aircraft bearings and components, metallic and composite aerostructures for fixed and rotary wing aircraft, components for missile and bomb systems, and subcontract helicopter work.
