GRW Gebr. Reinfurt GmbH & Co. KG announces the sale of the GRW Group (GRW) to KAMAN Aerospace Group Inc.

Rimpar, Germany, November 13, 2015 – GRW has announced that on November 9, 2015 Avedon Capital Partners (Avedon) and KAMAN Aerospace Group Inc. (KAMAN) signed an agreement under which KAMAN will take over the GRW Group.

Michael Ludwig, GRW MD and Group CEO, had this to say about the completion of sale and the future owner: “In KAMAN, GRW has found not just a new owner, but also a strong partner with outstanding future prospects that is committed to a long-term growth strategy for the Rimpar (Germany) and Prachatice (Czech Republic) plants. With its technically advanced products and expertise, GRW is in a position to provide excellent support for KAMAN’s plans for growth in this field. GRW’s products, production sites and distribution channels are the ideal addition and complement to KAMAN’s range.” Headquartered in Rimpar, Germany, since 1942 GRW has been manufacturing high-precision miniature ball bearings for technically demanding applications and a wide range of industrial applications. According to information provided by the company, GRW is expecting consolidated sales of around EUR 48 million for the 2015 business year.

The future owner, US company KAMAN Corporation (NYSE:KAMN), was founded in 1945 in Bloomfield, CT (USA). The KAMAN Corporation is active in the aerospace business as well as in industrial commercial dealing. The corporation has a global workforce of approximately 5,000, with annual turnover of around USD 2 billion.
Kaman Chairman, President & CEO, Neal Keating said: “GRW will be a great addition to our specialty
bearing and engineered products lines, and adds additional scale and new market segments to our most profitable product lines. “As with our current bearing manufacturing businesses, Kamatics Corporation and RWG Germany GmbH, GRW is focused on developing and manufacturing technology driven products with unsurpassed quality.” stated Gregory Steiner, President, Kaman Aerospace Group.

Since 2008, GRW has been owned by investor partnership Avedon Capital Partners, a private equity manager specializing in the financing of mid-sized companies with good growth prospects. Alexis Weege and Hannes Hinteregger, Avedon Capital Partners commented: “We are very excited about this transaction and would like to thank management and all employees for the hard work over the past years. We believe that GRW under its new ownership will be able to further capitalize on its outstanding position in the high precision, miniature ball bearing market and will benefit from Kaman’s strong distribution channels to further grow its international presence, in particular in the US.”

About GRW Gebrüder Reinfurt
GRW Gebrüder Reinfurt GmbH & Co. KG based in the German town of Rimpar, near Würzburg, is a global leader in the manufacture of high-precision miniature ball bearings. It has had great success in specializing in the development, manufacture and sale of high-precision miniature ball bearing for technically demanding applications. The GRW Group is active at three locations. In addition to its headquarters in Rimpar, the company runs a cutting-edge assembly plant in Prachatice in the Czech Republic, as well as a sales subsidiary in Richmond, USA.
GRW’s high-precision ball bearings are used in a number of fields, including industrial instrumentation, medical and dental engineering, vacuum and aerospace applications, as well as in electric motors and turbo engines.
You can find out more about GRW at www.grw.de

Unternehmenskontakt:
GRW Gebrüder Reinfurt GmbH & Co. KG
Hochpräzisionskugellager
Niederhoferstraße 105
97222 Rimpar
Tel.: +49 (0) 93 65 / 819 - 0
e-mail: info@grw.de
web: www.grw.de

This release was published on openPR.