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.”
Article by Jessica Johnson, Senior Editor, Timber Processing January/February 2024
Some of the smartest men and women in the industry have graced the pages of this magazine—and have won the award of Timber Processing Person of the Year. They’ve all been incredibly worthy of this recognition for innovation, commitment and love of the industry they serve. Perhaps none have been quite as innovative as the introverted sawmiller from Georgia named Levi Anderson Pollard, V, whose name is on two of the patents that changed the way the sawmilling world manufactures and dries lumber (and on so many other patents as well).
Walter Jarck, whose career in the forest products industry spanned 65 years and ranged from logging machinery to engineered wood products, died January 3, surrounded by his children, in North Wilkesboro, NC. He was 92.
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