February 26, 2010 (FinancialWire) — Kaman Corp. (NASDAQ: KAMN) said that its Kaman Industrial Technologies Corp. unit has agreed to acquire Allied Bearings Supply Co. The transaction is scheduled to close on April 5, 2010 and terms were not disclosed.

Oklahoma-based Allied is a distributor of bearings, power transmission, material handling, and industrial supplies to such markets as the oil, gas, refinery, drilling equipment, steel, cement, paper, and food industries.

In addition to its main Tulsa location, the company has branches in Oklahoma City, Pryor, Ponca City, Ardmore and, Muskogee, Oklahoma; Fort Smith, Arkansas; and Houston, Texas.

According to Kaman, the company had annual sales of around $22 million in the fiscal year ended October 31, 2009.

Kamen said that Allied will become part of KIT, Kaman’s industrial distribution segment.

KIT is a distributor of power transmission and motion control products in North America. The company operates nearly 200 branches, distribution centers and customer service centers across the U. S., Canada, Mexico, and Puerto Rico. Connecticut-based Kaman conducts business in the aerospace and industrial distribution markets. The company has over four thousand worldwide employees.

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