---
schema_version: "secwatch.filing_event.v1"
accession: "0000886346-23-000158"
form_type: "8-K"
ticker: "KAI"
cik: "0000886346"
company_name: "KADANT INC"
filed_at: "2023-12-28T23:59:59+00:00"
generated_at: "2026-06-07T06:41:04.532058+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Kadant to acquire Key Knife for ~$156M cash; close expected early Jan 2024

## Summary
- Acquisition price ~$156M in cash, subject to customary adjustments.
- Key Knife TTM revenue ~$65M (trailing twelve months ended Sep 30, 2023).
- Financed primarily through borrowings under Kadant's revolving credit facility.
- Key Knife will become part of Kadant's Industrial Processing segment.
- Key Knife has 141 employees; global supplier of engineered knife systems for wood industries.

## SEC filing metadata
- accession: 0000886346-23-000158
- form_type: 8-K
- ticker: KAI
- cik: 0000886346
- company_name: KADANT INC
- filed_at: 2023-12-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/886346/000088634623000158/0000886346-23-000158-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/886346/000088634623000158/kai-20231222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000886346-23-000158
- JSON: https://secwatch.observer/filing/0000886346-23-000158.json
- Plain text: https://secwatch.observer/filing/0000886346-23-000158.txt

## Key facts
- Material Agreements
  KADANT INC entered into Securities Purchase Agreement (the “Acquisition Agreement”) with Key Knife, Inc., Key Knife Canadian Investments Corporation, Key Knife, Inc. Employee Stock Ownership Trust, and Kadant Canada Corp. valued at approximately $156 million in cash (effective 2023-12-22).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Key Knife, Inc., Key Knife Canadian Investments Corporation, Key Knife, Inc. Employee Stock Ownership Trust, and Kadant Canada Corp.
  - Value: approximately $156 million in cash
  - Effective: 2023-12-22
  source text: On December 22, 2023, Kadant Inc. (“Kadant” or the “Company”) entered into a Securities Purchase Agreement (the “Acquisition Agreement”) by and among Key Knife, Inc., Key Knife Canadian Investments Corporation, Key Knife, Inc. Employee Stock Ownership Trust, the Company, and Kadant Canada Corp. for the purchase of all the outstanding equity interests of Key Knife, Inc. and Key Knife Canadian Investments Corporation (collectively, “Key Knife”) for approximately $156 million in cash, subject to certain customary adjustments (the “Acquisition”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/886346/000088634623000158/0000886346-23-000158-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.