Precision Marshall subsidiary Live Ventures Inc. acquired all of the outstanding stock of The Kinetic Co. Inc., a Wisconsin-based producer of industrial knives. The transaction, valued at $26 million, was financed with a combination of third-party bank and seller debt, a sale-leaseback of real estate and cash from Live Ventures.
Kinetic is involved in the production of industrial knives, in addition to hardened wear products for the tissue, metal and wood industries and for in-house grinding, machining and heat-treating.
Kinetic employs 100 non-union employees.
The acquisition of Kinetic, which will continue to operate as a standalone business, is expected to increase Live Ventures' steel manufacturing segment's annual revenues by $20 million.
