Kaman to acquire Industrial Supply Corporation
Kaman Corp. recently announced that its subsidiary, Kaman Industrial Technologies Corporation has signed a definitive agreement to acquire Richmond, VA-based Industrial Supply Corporation.
Kaman Corp. recently announced that its subsidiary, Kaman Industrial Technologies Corporation has signed a definitive agreement to acquire Richmond, VA-based Industrial Supply Corporation. ISC will become part of KIT, Kaman’s industrial distribution segment.
“This acquisition supports our corporate strategy of accelerating the growth of KIT by expanding our geographic footprint in major industrial markets throughout North America,” said Neal J. Keating, chairman, president and chief executive officer of Kaman Corporation. “It will provide Kaman access to new markets, expand our offering of products and services, and increase our capability to service major national and regional customers.”
Founded in 1933, ISC is a distributor of power transmission, fluid power, material handling and industrial MRO supply products to a variety of markets, including ship building, printing, machinery, transportation, electronics, pharmaceutical, rubber, chemicals and food processing. In addition to its Richmond facility, ISC has five branches located along the Eastern seaboard.
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Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
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Read more: 2015 Salary Survey