Kadant announced it had completed the acquisition of KWS Manufacturing Company, Ltd. (KWS) for about $84 million in cash, subject to certain customary adjustments. This acquisition was financed primarily through borrowings under Kadant’s revolving credit facility.
KWS is a leading conveying equipment manufacturer for the bulk material handling industry. And the company manufactures screw conveyors, screw feeders, slide gates, and bucket elevators for process industries, including the food, chemicals, and wood industries. Located in Burleson, TX, with about 165 employees, KWS had revenue of $45 million for the trailing twelve months ended September 30, 2023. KWS will become part of Kadant’s Material Handling reporting segment.
KEY QUOTES:
“We are pleased to welcome our colleagues from KWS to the Kadant family. Our acquisition of KWS expands our respective product portfolios and enhances our internal capabilities. With our shared focus on bringing highly engineered customer solutions to process industries and our past successes working together, we believe KWS is an excellent fit with Kadant.”
— Jeffrey L. Powell, president and chief executive officer of Kadant
“We are proud of the leading position KWS has established in the screw conveyor market. Our reputation for quality products and excellent service fits well with Kadant’s culture and values. We look forward to being a part of Kadant and leveraging opportunities to increase value for our customers and other stakeholders.”
— William C. Mecke, president of KWS
