Kaman Corporation KAMN recently entered into a deal to divest its Distribution segment to Greenwich-based private equity firm — Littlejohn & Co., LLC’s (Littlejohn) for $700 million in cash. The completion of the deal is subject to customary closing conditions and projected to close in the third quarter of this year.The segment to be divested is a major distributor of more than 6 million items to a strong customer base in almost all industries. Some of the notable items offered by the segment are bearings, electro-mechanical, power transmission, fluid power components, and automation and MRO supplies. Also, the segment is engaged in offering engineering, design and support for automation, electrical, hydraulic, linear as well as pneumatic systems. Notably, the Distribution segment, which reported net revenues of $1.1 billion in 2018, has an extensive presence across the United States and Puerto Rico with 2,200 employees.Kaman anticipates receiving about $600 million in net proceeds from the deal. As noted by the company, the proceeds will be used to pay down about $100 million of debt, apart from boosting internal development efforts. As a matter of fact, this agreement marks a significant step toward the company’s portfolio transformation initiative and will enable it to focus more on its aerospace and engineered products businesses.Kaman is well poised to gain from investments in organic growth initiatives, acquisitions, contract wins and disciplined capital deployment. Moreover, over the past three months, the Zacks Rank #1 (Strong Buy) company has gained 9%, outperforming the 5.6% growth recorded by the industry it belongs to.In addition, analysts have become increasingly bullish on Kaman. In the past couple of months, the Zacks Consensus Estimate for 2019 earnings has trended up.Other Stocks to ConsiderSome other top-ranked stocks in the same space are Roper Technologies, Inc. ROP, IDEX Corporation IEX and Chart Industries, Inc. GTLS. While Roper sports a Zacks Rank #1, IDEX and Chart Industries carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Roper surpassed estimates in each of the trailing four quarters, the average positive earnings surprise being 8.43%.IDEX surpassed estimates in each of the trailing four quarters, the average positive earnings surprise being 5.69%.Chart Industries outpaced estimates thrice in the preceding four quarters, the average positive earnings surprise being 16.56%.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roper Technologies, Inc. (ROP): Free Stock Analysis Report Chart Industries, Inc. (GTLS): Free Stock Analysis Report Kaman Corporation (KAMN): Free Stock Analysis Report IDEX Corporation (IEX): Free Stock Analysis Report To read this article on Zacks.com click here.