Kinperium Industries has acquired K.A. Group, consisting of K-Tec Earthmovers and Ashland Industries. Kinperium partnered with the owners and management of K-Tec and Ashland to acquire a majority stake of the company. K-Tec and Ashland are the manufacturers of pull-pan earthmoving scrapers and implements for the construction, mining, and agriculture end markets.
The two scraper brands previously merged in 2020, with manufacturing facilities in Rosenort, Manitoba, Canada, and Ashland, Wisconsin, USA. With the growth goals set out, both factories and all current employees will remain under new ownership. The factories are looking to add additional staff to their teams and open future facility expansion projects to fulfill the existing orders of earthmoving equipment.
Benefiting from a dedicated and knowledgeable global network of equipment dealer relationships, K.A. Group has grown consistently by developing and manufacturing a variety of earthmoving scrapers and implements.
"Kinperium is a family office which focuses on the generational, stable success of businesses." said Mike Palitsky, president/CEO of K.A. Group. "I firmly believe that this structure is exactly in-line with the culture that we are enjoying at K.A. Group today. From the start, we identified Kinperium as our number one partner candidate. We are thankful that we can now begin our working relationship together for a promising future of long-term growth."
Kinperium closed the transaction on January 31, 2022. Financial terms of the deal were not disclosed.
