SOURCE: McGladrey Capital Markets

McGladrey Capital Markets

November 22, 2011 09:00 ET

McGladrey Capital Markets Leads Negotiations as Kaman Acquires Vermont Composites

COSTA MESA, CA--(Marketwire - Nov 22, 2011) - Kaman Aerospace Group, Inc., a subsidiary of Kaman Corporation, an aerospace & defense and industrial distribution company based in Connecticut, has acquired Vermont Composites, a leading designer and manufacturer of composite aerostructures based in Vermont.

McGladrey Capital Markets LLC initiated the transaction, sourced the acquirer and acted as the exclusive financial advisor to Vermont Composites. Transaction terms were not disclosed. Vermont Composites was a portfolio company of Kline Hawkes & Co.

Paul Weisbrich, senior managing director of McGladrey Capital Markets' Aerospace, Defense and Government Services Group, states, "Presently, there is a known scarcity of well-run, focused, independent composite aerospace companies in North America, if not the world. That list has now become one shorter."

About Kaman Corporation

Kaman Corporation, founded in 1945 by aviation pioneer Charles H. Kaman, and headquartered in Bloomfield, Connecticut conducts business in the aerospace and industrial distribution markets. The company produces and/or markets widely used proprietary aircraft bearings and components; complex metallic and composite aerostructures for commercial, military and general aviation fixed and rotary wing aircraft; aerostructure engineering design analysis and FAA certification services; safe and arm solutions for missile and bomb systems for the U.S. and allied militaries; subcontract helicopter work; and support for the company's SH-2G Super Seasprite maritime helicopters and K-MAX medium-to-heavy lift helicopters. The company is a leading distributor of industrial parts, and operates more than 200 customer service centers and five distribution centers across North America.

About Vermont Composites

Vermont Composites, Inc. engages in the design, engineering and manufacture of carbon and fiberglass composite structures. Since being founded in 1996, the Company has established a premier reputation for engineering expertise and high-quality manufacturing capabilities. The Company produces highly engineered, composite structural parts for the Aerospace and Medical Device Industries. Example products include electronic enclosures, radomes, fairings and medical imaging tabletops. Within its targeted industries, VCI has a blue-chip customer base with prominent industry participants including Lockheed Martin, Boeing, BAE Systems, Raytheon and Philips as long-term customers.

About Kline Hawkes & Co.

Kline Hawkes & Co., manages through its funds, Kline Hawkes California, Kline Hawkes California SBIC, L.P. and Kline Hawkes Pacific, L.P., approximately $300 million of capital. Kline Hawkes' first investment was made in 1996 and since that time has invested in more than 40 companies. In our most recent Fund, Kline Hawkes Pacific, L.P., the investment range is $5 - $10 million per company with a focus on expansion-stage investment opportunities and change of control transactions.

About McGladrey Capital Markets

McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm's services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.

McGladrey Capital Markets is affiliated with McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world's preeminent tax services provider. McGladrey Capital Markets' international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.

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