Kadant acquires Key Knife for $156M in cash

Kadant has entered into a definitive agreement to acquire Key Knife, Inc. and certain of its affiliates for approximately $156M 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 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.