GREY:CSOSF - Post Discussion
Post by
DTM5 on May 05, 2010 10:30pm
Great news re: valuation!
Interesting comparable! Kaman (out of the US with several branches in BC) just bought Minarij - Minarik has sales of 84 million and 16 branches - Very Very Very comparable to Commercial.
Even if you discount the value of commercial by thier debt load - say 14 million - That pegs CSA's takeout value to about 20 million - Still almost $1 per share. And to a company like Kaman, CSA would be a foothold in a territory they aren't competitive in, and give them access to the potentially huge energy sector.
This is a great comparable!! No wonder the share price is finally moving!
Kaman Acquires National Motion Control Distributor Minarik Corporation
BLOOMFIELD, Conn., May 3 /PRNewswire-FirstCall/ -- Kaman Corporation (Nasdaq: KAMN) announced that its subsidiary Kaman Industrial Technologies Corporation (KIT), has acquired Minarik Corporation (Minarik). The transaction closed on April 30, 2010 and Minarik is now part of Kaman's Industrial Distribution Segment.
Minarik, founded in 1952, is a national distributor of motion control and automation products. The company has one of the most complete offerings in the industry including many of the leading brands of sensors, drives, motors and automation control products serving U.S. manufacturers. Headquartered in Glendale, California, Minarik operates from sixteen branch locations in many of the high tech manufacturing markets in the U.S. The company, which was acquired for a purchase price of $39 million, generated sales of approximately $84 million during the year ended December 31, 2009.
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