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Kaman Corporation recently announced that it has signed an agreement to acquire all the assets of Ohio Gear and Transmission of Eastlake, Ohio. The transaction is expected to close by the end of July. Ohio Gear and Transmission will become part of Kaman’s distribution segment.
"We are pleased to add Ohio Gear and Transmission to our mechanical power-transmission product platform and welcome their employees to the Kaman team," said Kaman president Steve Smidler. "Ohio Gear provides entry into the Cleveland market, which represents a new geographic region for us, and they also have design, build and assembly capabilities for a wide variety of standard and unique gearing products. With Ohio Gear, we add a highly complementary business with a strong reputation, high-quality products and excellent technical capabilities."
Founded in 1973, Ohio Gear and Transmission is a distributor of mechanical power-transmission equipment, bearings and electric automation systems as well as a designer and fabricator of specialized gearing products to industries, such as food, packaging, material handling and general machinery. The company has one location and annual sales of approximately $9 million.
"After 40 years as an independent distributor, we felt it was in the best interest of our employees, customers and supplier partners to join forces with a major national firm," said John Bauer, president of Ohio Gear and Transmission. "Our local knowledge combined with the scale and distribution expertise of Kaman will help us provide enhanced value to our customers."
For more information, visit www.kaman.com.