Kadant Completes Key Knife Acquisition

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.”