Kaman Corp. announced June 26 that it has struck a deal to sell its Distribution division—about half of its company—to Littlejohn & Co. for $700 million so Kaman can focus almost exclusively on aerospace and defense as it tries to restructure its business. “Our strengthened balance sheet will better position the company to invest in and build our higher-margin, higher-growth aerospace and engineered products businesses to enhance shareholder value,” Kaman ...

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