Kadant (KAI) to Acquire Key Knife, Inc.

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Go back to Kadant (KAI) to Acquire Key Knife, Inc.

Kadant to Acquire Key Knife, Inc.

December 28, 2023 4:17 PM EST

WESTFORD, Mass., Dec. 28, 2023 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) has entered into a definitive agreement to acquire Key Knife, Inc. and certain of its affiliates (Key Knife) for approximately $156 million in cash, subject to certain customary adjustments. The acquisition is expected to close in early January 2024, subject to the satisfaction of customary closing conditions, and will be financed primarily through borrowings under Kadants 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... More