Kadant acquires Balemaster

Kadant Inc., a technology manufacturer based in Westford, Massachusetts, has acquired Balemaster, a manufacturer of horizontal balers used in the recycling industry that is based in Crowne Point, Indiana. The company acquired Balemaster for $54 million in cash. Balemaster will become part of Kadant’s Material Handling reporting segment.

According to a news release from Kadant, Balemaster’s revenue for the past 12 months ended June 30 was approximately $22 million.  

Kadant hosted a telephone conference Aug. 24 to talk about the acquisition. Kadant Inc. CEO Jeffery Powell said the company was interested in acquiring Balemaster for four years. He said one of the things that attracted the company to Balemaster was its focus on the packaging recycling market.  

Powell said the acquisition also allows Kadant to expand its operations in North America to support its Germany-based businesses that supply large multistream machines to material recovery facilities around the country.

“Our acquisition of Balemaster expands our presence in the secondary material processing sector and creates new opportunities for leveraging our high-performance balers produced in Europe,” Powell adds. “The company is a market leader in North America, and its strong aftermarket business fits well with Kadant. We are excited to welcome the employees of Balemaster to the Kadant family.” 

Powell says that Balemaster will continue to operate as a stand-alone company, as part of Kadant’s decentralized business model. 

“We are proud of the strong brand and market presence Balemaster has built over the past 75 years,” says Cornel Raab, president of Balemaster. “Kadant is a world-class company with a similar culture and values as our family-built business, and we believe it is a great home for our company and employees.”