Kadant Completes Key Knife Acquisition
Kadant Inc. has completed its previously announced acquisition of Key Knife, Inc. and some of its affiliates for approximately $156 million in cash, subject to certain customary adjustments. The acquisition was financed primarily through borrowings under Kadant’s revolving credit facility.
Key Knife, a global supplier of engineered knife systems for custom chipping, planing, and flaking solutions for wood product industries, is headquartered in Tualatin, Ore. with 141 employees located primarily in the U.S. and Canada. Key Knife’s revenue for the trailing twelve months ending September 30, 2023 was approximately $65 million. Key Knife will become part of Kadant’s Industrial Processing reporting segment.
“We are pleased to complete this transaction and welcome our new colleagues from Key Knife to the Kadant family,” says Jeffrey L. Powell, President and CEO, Kadant. “Our acquisition of Key Knife expands our product portfolio and strengthens our respective positions in wood processing industries. We look forward to extending Key Knife’s strong brand into new markets and leveraging Kadant’s global sales network.”
Latest News
Swiss Krono France Facility Upgrades Recycling
Swiss Krono S.A.S. based in Sully-sur-Loire, France and the French subsidiary of the Swiss Krono Group, strongly emphasizes the environmental aspects of its activities a key initiative of that commitment is increasing the use of recycled…
Raute Receives 93 Million Euros Order
Raute Corp. has signed a contract worth 93 million Euros with Metsä Wood, part of Metsä Group, for the technology delivery of a new Kerto laminated veneer lumber (LVL) mill in Äänekoski, Finland. This order, the…
Find Us On Social
Newsletter
The monthly Panel World Industry Newsletter reaches over 3,000 who represent primary panel production operations.
Subscribe/Renew
Panel World is delivered six times per year to North American and international professionals, who represent primary panel production operations. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative. Contact us today!