Kadant Inc (KAI)

[AISI304]

KAI announces 8/14/17 acquisition completion of Unaflex assets for $31 million in cash

http://www.businesswire.com/news/home/20170814005966/en/

August 14, 2017 04:46 PM Eastern Daylight Time

WESTFORD, Mass.--(BUSINESS WIRE)--Kadant Inc. (NYSE: KAI) announced today the completion of its acquisition of certain assets of Unaflex, LLC for $31 million in cash, subject to a post-closing adjustment. Unaflex is a leading manufacturer of expansion joints and related products for process industries. Expansion joints, also known as compensators, are used in industrial piping systems to absorb thermal movement. They are commonly used in industries such as petrochemical, power generation, and water treatment, among others.

“Our acquisition of the Unaflex business, a leader in the design and manufacture of elastomeric, metal, and fabric expansion joints, will broaden our product portfolio offered to process industries that require critical components for maximum uptime and operational efficiency”

“Our acquisition of the Unaflex business, a leader in the design and manufacture of elastomeric, metal, and fabric expansion joints, will broaden our product portfolio offered to process industries that require critical components for maximum uptime and operational efficiency,” said Jonathan Painter, president and chief executive officer of Kadant Inc. “With parts and consumables making up virtually all the company’s revenue stream, it fits well with our strategy of growing our aftermarket business and we expect the company to be a solid addition to our Fluid-Handling product line.”

Unaflex, LLC has its principal operation in South Carolina with approximately 140 employees and 2016 revenue of $18 million.

About Kadant

Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,300 employees in 20 countries worldwide. For more information, visit www.kadant.com.