Kaman to be acquired by Arcline Investment for $46.00 per share in cash

Kaman announced that it has entered into a definitive agreement to be acquired by Arcline Investment in an all-cash transaction with a total enterprise value of approximately $1.8B. Upon completion of the transaction, Kaman will become a privately held company. Under the terms of the agreement, Kaman shareholders will receive $46.00 per share in cash. The per share purchase price represents a premium of approximately 105% over Kaman’s closing share price on January 18, the last full trading day prior to the transaction announcement, and a premium of approximately 110% over the volume weighted average price of Kaman common stock for the 90 days ending January 18. The transaction, which has been unanimously approved by the Kaman board of directors, is expected to close in the first half of 2024, subject to customary closing conditions, including approval by Kaman shareholders and receipt of required regulatory approvals. Following its unanimous approval of the transaction, the Kaman board of directors recommends that Kaman shareholders vote in favor of the transaction. The transaction is not subject to a financing condition. Arcline intends to fund the transaction with a combination of committed debt and equity financing. Upon completion of the transaction, Kaman will become a wholly owned subsidiary of investment funds managed by Arcline and Kaman’s common stock will no longer be listed on any public stock exchange.