Kadant to Buy Joh. Clouth, For €78M
Summary
Kadant Inc. (NYSE:KAI), a Westford, Mass.-based supplier of critical components and engineered systems used in process industries worldwide, is to acquire Joh. Clouth GmbH & Co. KG and its affiliates, for approximately €78m in cash, subject to certain customary adjustments. Clouth will become part of Kadant’s Flow Control reporting segment upon the closing, which is expected to occur in the third quarter of 2021. Led by Peter Kochenrath, chief executive officer, Clouth is a manufacturer of doctor blades and related equipment used in the production of paper, packaging, and tissue. Led by Jeffrey L. Powell, president and chief executive officer, Kadant provides products, technologies, and services that play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries.