Kinperium acquires OEMs K-Tec and Ashland
Kinperium Industries announced the acquisition of KA Group, consisting of K-Tec Earthmovers and Ashland Industries.
Kinperium has partnered with the owners and management of K-Tec & Ashland to acquire a majority stake in the company.
K-Tec & Ashland are manufacturers of trailed deck scrapers and earthmoving tools for the construction, mining and agricultural end markets.
The two scraper brands previously joined forces in a 2020 merger, providing production facilities in Rosenort, Manitoba, Canada and Ashland, Wisconsin, USA.
With the aggressive growth targets the company has set, both plants and all current employees are ready to continue their efforts under new ownership.
Plants on both sides of the border are each looking to add additional staff to their teams and future facility expansion plans to fill the existing order book for earthmoving equipment.
“Our new partnership with K-Tec and Ashland is truly revolutionary,” said Bill Kostenko, President of Kinperium Industries Inc. “Ashland has a long heritage of success in the agricultural and industrial construction markets, while K-Tec’s rugged, quality earthmoving excels in the heavy construction and mining markets. We believe these complementary brands are well positioned to expand their industry-leading market share, and Kinperium is pleased to support the long-term growth of the organization. One of the main factors that attracted us to the KA Group is the strength and enthusiasm of the management team. We look forward to supporting this existing team to continue the momentum that she created for the KA group. »
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“Kinperium is a family office focused on generational and stable business success.” said Mike Palitsky, Chairman and CEO of KA Group. “I strongly believe that this structure is exactly in line with the culture we enjoy today at KA Group. From the outset, we identified Kinperium as our number one partner candidate. We are grateful to now be able to begin our working relationship together for a promising future of long-term growth.
“KA Group also sincerely thanks our former Owners Group, Owner Resource Group (“ORG”) for their fundamental support, relationships and the structure they have established for our business to thrive over the past 3 years.”
Kinperium closed the transaction on January 31, 2022. Financial terms of the agreement were not disclosed.