Crawford United Corporation (OTC: CRAWA) has purchased the assets of Knitting Machinery Corporation of America, located in Cleveland, Ohio. KMC designs and manufactures hose reinforcement machinery and replacement parts for the makers of rubber and silicone hoses.
“KMC is strategically important to our growing presence in the industrial hose market,” said Brian Powers, CEO of Crawford United. “This acquisition will expand our offerings and diversify our customer base in this growing market segment,” he added.
The acquisition is expected to add less than $2 million in annualized revenue and be immediately accretive to earnings.
