Aerospace manufacturer Kaman buys Allied Bearings

Helicopter and aerospace equipment maker Kaman Corp. said Monday that it has completed its acquisition of Allied Bearings Supply Co., a distributor of bearings, power transmission, material handling and industrial supplies.

The terms of the deal, announced in September, were not disclosed.

Allied, based in Tulsa, Okla., will become part of Kaman's Industrial Distribution Segment.

The acquisition of Allied provides a strong position in Oklahoma and Arkansas and increases Kaman's exposure to the oil, gas and petrochemical industries that Allied serves.

Shares of Kaman rose 53 cents to close at $25.45 Monday.