Firm News
Wiggin and Dana Client Kaman to be Acquired by Arcline Investment Management
On January 19, 2024, Wiggin and Dana client Kaman Corp., a public, Connecticut-based aerospace, defense, industrial and medical markets corporation, announced its entry into a definitive agreement to be acquired by Arcline Investment Management, L.P., a private equity firm focused on technology driven industrial companies (“Arcline”). Under the terms of the agreement, Arcline will purchase Kaman for approximately $1.8 billion in cash and, upon completion of the transaction, Kaman will become a privately held company and wholly owned subsidiary of investment funds managed by Arcline. Kaman shareholders will receive $46 per share in cash and the per share purchase price represents a premium of approximately 105% over Kaman’s closing share price on January 18, 2024.
Wiggin and Dana Partners Mark Kaduboski and Heather Rahilly along with Skadden, Arps, Slate, Meagher & Flom LLP acted as legal counsel to Kaman.
