Kadant completes acquisition of Key Knife for $156M in cash

Kadant has completed its previously announced acquisition of Key Knife and certain of its affiliates for approximately $156M in cash, subject to certain customary adjustments. The acquisition 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. Its products enable wood processing mills to improve fiber recovery, product quality, and maximize production while lowering operating costs. The company is headquartered in Tualatin, Oregon with 141 employees located primarily in the United States and Canada. Key Knife’s revenue for the trailing twelve months ended September 30, 2023 was approximately $65M. Key Knife will become part of Kadant’s Industrial Processing reporting segment.