Kadant To Acquire Key Knife For About $156 Mln In Cash

(RTTNews) - Kadant Inc.(KAI) said it agreed to acquire Key Knife Inc. and certain of its affiliates for about $156 million in cash, subject to certain customary adjustments.

The acquisition is expected to close in early January 2024, and will be financed primarily through borrowings under Kadant's revolving credit facility.

Founded in 1986, Key Knife is a global supplier of engineered knife systems for custom chipping, planing, and flaking solutions for wood product industries. The company is headquartered in Tualatin, Oregon with 141 employees located primarily in the United States and Canada. Key Knife's revenue for the trailing twelve months ended September 30, 2023 was about $65 million.