ATLANTA -- Kaman USA Holdings Inc. said that it has hired Morgan Keegan & Co. Inc., a full-service investment banking firm that specializes in the convenience store and retail petroleum industry, to assist the company with its acquisition strategy. Kaman is looking for a platform acquisition and anticipates building an extensive network through acquisitions over the next several years, it said.
To further its efforts to become a significant regional player in the U.S. c-store and retail petroleum market, Kaman will initially focus on acquisitions [image-nocss] of businesses consisting of 20 to 75 company-operated stores located in the Southeast, East Coast and Midwest regions of the United States.
Kaman said it is seeking to acquire a company with significant real estate ownership. It is also looking for mature operating businesses with experienced operational management teams. It would also be interested in acquiring petroleum distributors and oil and gas production companies
The convenience store industry remains highly fragmented with excellent opportunities for consolidation, said Benny Davidson, vice president of business development of Kaman. We have engaged Morgan Keegan in an effort to expedite our growth. Together, we will initially seek acquisitions meet our criteria including sufficient market density, superior quality assets, experienced management and history of profitability.
Morgan Keegan, Memphis, Tenn., provides investment banking, equity research, securities brokerage, trust and other financial services. Morgan Keegan is an independent subsidiary of Regions Financial Corp., a financial services holding company with more than $80 billion in assets.
Kaman USA is a wholly owned subsidiary of Kaman Holdings, a publicly traded holding company on the Tel Aviv Stock Exchange under the symbol KMNH, with investments in the retail, industrial and financial services industries.
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