M&A
confidence high
sentiment positive
materiality 0.80
Live Ventures acquires The Kinetic Co. for ~$26M; expects $20M annual revenue boost
LIVE VENTURES Inc
- Acquired Kinetic, 74-year-old industrial knife maker, for ~$26M; expects to add ~$20M annual revenue to steel segment.
- Purchase price: $18.9M for shares + $4.5M real estate; up to $2M contingent additional payments.
- Financed via bank debt, seller note, sale-leaseback of real estate, and cash from Live Ventures.
- Kinetic will continue as standalone business; employs ~100 non-union workers in Greendale, WI.
- Executed employment agreements with Cash Masters (President), Rocky Sperka, and Jay Judkins; includes non-competes.