Fuze maker; FMU-152 fuzes in the 2025 bomb package for Israel
Company · United States · Organization
Kaman Corporation is a U.S. maker of aerospace and weapons components that private equity firm Arcline Investment Management took private in April 2024, paying $46.00 per share, an enterprise value of about $1.8B; Kaman left the New York Stock Exchange. For two decades Kaman was the sole supplier to the U.S. Air Force of the FMU-152 Joint Programmable Fuze, the device that sets off a bomb at the chosen moment, and it sold the fuze to 26 other countries. The U.S. munitions package for Israel notified to Congress on Feb 7, 2025 includes 17,475 FMU-152A/B fuzes, to be paired with JDAM kits and GBU-39 bombs of the kind used in Gaza. The fuze business, Precision Fuzing & Sensors, now calls itself independent, a new name for the same trigger. Kaman's merger filing estimated golden-parachute payments of about $16.3M for its then-CEO, Ian Walsh.
● confirmed by a primary document · ○ reported
Kaman Corporation ... today announced the completion of its acquisition by Arcline Investment Management, L.P. ("Arcline") in an all-cash transaction with a total enterprise value of approximately $1.8 billion.
Kaman Corp. (NYSE:KAMN) announced today that its Aerospace segment has been awarded a direct commercial sale (DCS) order for the procurement of Joint Programmable Fuzes (JPF) with an expected total value of $324 million.
Kaman Corporation ... today announced the completion of its acquisition by Arcline Investment Management, L.P.
In the year ended December 31, 2023, two individual customers, The Boeing Company and Lockheed Martin Corporation, accounted for more than 10% of consolidated net sales.
EDGAR full-text search for "16,272,626" returns KAMAN Corp DEFM14A filed 2024-03-08 (accession 0001140361-24-012403, ny20021849x2_defm14a.htm).
completion of its acquisition by Arcline Investment Management, L.P. ("Arcline") in an all-cash transaction with a total enterprise value of approximately $1.8 billion.
Mr. Walsh, 55, has been President, Chief Executive Officer and a director of the Company since September 8, 2020
named Ian K. Walsh as President and Chief Executive Officer and as a member of the Board, effective September 8, 2020.
In the year ended December 31, 2023, consolidated net sales increased by 12.8% to $775.9 million
As of December 31, 2023, our total JPF backlog was $54.1 million, up from $20.0 million at December 31, 2022 as a result of multiple orders received in the fourth quarter. In the fourth quarter of 2023, we received multiple JPF orders aggregating $51.2 million.
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