Ann Arbor, Mich,-based Kaydon Corp., a supplier of products to wind energy markets, has acquired Avon Bearings Corp. in a cash transaction valued at $55 million. The acquisition of Avon is expected to be accretive to Kaydon's earnings within the first full year of ownership and immediately accretive to cash earnings. Avon is expected to add approximately $30 million to Kaydon's fiscal 2008 sales.
Headquartered in Ohio, Avon is a custom designer and manufacturer of high precision large diameter turntable bearings. Avon also remanufactures bearings sells replacement bearings, and is known globally for its focus on engineering support, product quality and proprietary manufacturing capabilities.
