Motion Industries Inc. has completed the purchase of Kaman Distribution Group (KDG) for a purchase price of approximately US$1.3 billion in cash, effective 3 January 3 2022.
The strategic addition of KDG to Motion will significantly boost the latter’s concentration in core industrial products and services as well as in the growing technical/automation arenas, including precision engineering. As a leading power transmission, automation and fluid power industrial distributor and solutions organisation with operations throughout the US, KDG provides electro-mechanical products, bearings, power transmission, motion control and electrical and fluid power components to MRO and OEM customers.
“It’s a very exciting time; this transformative move will be highly beneficial to everyone involved, especially for customers of our combined entities,” said Motion President Randy Breaux.
Breaux continued: “Our customer service will be the best it’s ever been with deepened and expanded capabilities. In addition, KDG shares many of our same cultural beliefs, principles and ambitions, including our commitment to providing superior service and value to our customers. We look forward to welcoming the highly talented KDG associates to the Motion team.”
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/06012022/motion-industries-acquires-kdg/
You might also like
According to Wood Mackenzie, the European Commission’s price cap announcement would not severely impact Russian refiners.