Kaman Corporation, headquartered in Bloomfield, Connecticut, was incorporated in 1945. We are a diversified company that conducts business in the aerospace and industrial distribution markets. We report information for ourselves and our subsidiaries (collectively, “we,” “us,” “our,” and “the Company”) in two business segments, Distribution and Aerospace. A discussion of 2018 developments is included in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, in this Form 10-K.
During the second quarter of 2019, we announced that we had entered into a definitive agreement to sell our Distribution segment to affiliates of Littlejohn & Co., LLC for total cash consideration of $700.0 million subject to customary closing conditions and working capital adjustments. The transaction is expected to close in the third quarter of 2019, subject to customary closing conditions and the receipt of certain required consents and approvals. As a result of the definitive agreement, the Distribution segment results met the criteria for the presentation of assets and liabilities held for sale and discontinued operations. The results presented below represent the results of continuing operations, which include the Aerospace segment and our Corporate office. See Note 4, Discontinued Operations, to the Condensed Consolidated Financial Statements for further information on the Company's agreement to sell the Distribution segment.