Components and engineered systems supplier Kadant completed acquisition of certain assets of Unaflex, LLC for USD 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. It has its principal operation in South Carolina with approximately 140 employees and 2016 revenue of USD 18 million.
Jonathan Painter, president and chief executive officer of Kadant Inc, commented:
“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. 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.”
The transaction was financed through borrowings under the Kadant’s revolving credit facility. The business will be integrated into Kadant’s Wood Processing Segment.