Kadant to draw on revolver to acquire Key Knife for $156 million

By Wendy Van Sickle

Columbus, Ohio, Dec. 28 – Kadant Inc. plans to use borrowings under its revolving credit facility to finance its acquisition of Key Knife, Inc. and certain of its affiliates for $156 million in cash, according to a press release.

Kadant announced Wednesday it entered into a definitive agreement to acquire Key Knife. The acquisition is expected to close in early January.

Kadant makes components and engineered systems used in process industries and is based in Westford, Mass. Based in Tualatin, Ore., Key Knife is a supplier of engineered knife systems for custom chipping, planing, and flaking solutions for wood product industries.

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