Kaman Industrial Technologies Corporation (KIT) has acquired Florida Bearings, Inc. The Miami-based company will become part of KIT, Kamans industrial distribution segment. The terms have not been disclosed.
Florida Bearings, founded in 1950, is a distributor of bearings, power transmission and pump products as well as a provider of value-add services such as predictive maintenance and motor, gearbox and pump repair to diverse industries, including aviation. In addition to Miami, the company also has locations in Hialeah, Ft. Lauderdale, Riviera Beach and Orlando. The company has annual sales of approximately $20 million.
We are very pleased to welcome the Florida Bearings team to Kaman Industrial Technologies,” said Steve Smidler, president of KIT. “The acquisition of Florida Bearings provides a strong position in central and southern Florida and increases our exposure to key end markets.
Bruce Marchetti, president of Florida Bearings, said: The addition of Kamans broad array of electrical, fluid power and conveying product lines to our current offering will be a welcome growth opportunity for us to become an even more strategic supplier to customers in central and southern Florida.
