Kadant completes acquisition of Key Knife

Westford, Massachusetts-based Kadant Inc. has completed its previously announced acquisition of Key Knife Inc., Tualatin, Oregon. The acquisition, worth approximately $156 million, was financed primarily through borrowings under Kadant’s revolving credit facility.

Key Knife is a global supplier of engineered knife systems for custom chipping, planing and flaking solutions for wood product industries. According to Kadant, its products enable wood processing mills to improve fiber recovery and product quality, and to maximize production while lowering operating costs. The company, which employs 141 employees located primarily in the United States and Canada, will become part of the technology manufacturer’s industrial processing reporting segment.

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“We are pleased to complete this transaction and welcome our new colleagues from Key Knife to the Kadant family,” Kadant President and CEO Jeffrey L. Powell says. “Our acquisition of Key Knife expands our product portfolio and strengthens our respective positions in the wood processing industries. We look forward to extending Key Knife’s strong brand into new markets and leveraging Kadant’s global sales network.”