Kaman to acquire Vermont Composites

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Bloomfield, Connecticut-headquartered Kaman Aerospace is to acquire aerostructures firm Vermont Composites.

Based in Bennington, Vermont, the composite specialist produces medical equipment and aerostructures, for programmes including the Bell-Boeing V-22 Osprey and Boeing P-8 Poseidon.

It employs approximately 230 staff members and is expected to generate revenues of $32 million this year.

The acquisition will broaden Kaman's range of product platforms and offer growth potential in the composite structures field, "particularly in the intelligence, surveillance and reconnaissance sectors", said Gregory Steiner, Kaman Aerospace president.

The takeover would also bring "strong relationships with prime manufacturers", he added.

Vermont Composites will be integrated into Kaman's composites division, which is led by James Larwood as president.

However, Vermont's senior management team, including its president and chief excutive, Patrick Wheeler, have agreed to continue their employment with the company, according to Kaman.