---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-087056"
form_type: "8-K"
ticker: null
cik: "0000089140"
company_name: "SERVOTRONICS INC /DE/"
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T10:36:00.838435+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Servotronics sells Ontario Knife Co. assets for $2.1M; records $4.3M impairments

## Summary
- Completed sale of Ontario Knife Co. assets to Blue Ridge Knives for $2.1M cash on August 1, 2023.
- Incurring approx. $1.129M in exit/disposal costs including vendor terminations and retention payments.
- Recognizing $3.2M impairment on assets sold; $1.1M impairment on OKC building not included in sale.
- Substantially all OKC employees terminated; small group retained for wind-down.

## SEC filing metadata
- accession: 0001104659-23-087056
- form_type: 8-K
- cik: 0000089140
- company_name: SERVOTRONICS INC /DE/
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 2.05, 2.06, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/0001104659-23-087056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/tm2322737d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-087056
- JSON: https://secwatch.observer/filing/0001104659-23-087056.json
- Plain text: https://secwatch.observer/filing/0001104659-23-087056.txt

## Key facts
- M&A Transactions
  SERVOTRONICS INC /DE/ completed a disposition involving Blue Ridge Knives, Inc. for $2,100,000 (closed 2023-08-01).
  - Action: disposition
  - Counterparty: Blue Ridge Knives, Inc.
  - Consideration: $2,100,000
  - Closing: 2023-08-01
  source text: assumed liabilities in connection with the Purchased Assets (the “Asset Sale Transaction”). The purchase price for the Asset Sale Transaction consisted of a payment to OKC of $2,100,000, subject to certain adjustments, in cash. The foregoing description of the Asset Purchase Agreement does not purport to be a complete description of the rights and obligations of
  evidence_url: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/0001104659-23-087056-index.htm
- Restructurings & Charges
  SERVOTRONICS INC /DE/ announced a restructuring with charges of approximately $1,129,000 affecting OKC.
  - Type: restructuring
  - Charge: approximately $1,129,000
  - Affected area: OKC
  source text: The Company expects to incur costs of approximately $1,129,000, including costs related to the termination of vendor relationships, retention payments to certain employees and other costs in connection with the cessation of OKC’s business activities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/0001104659-23-087056-index.htm
- Restructurings & Charges
  SERVOTRONICS INC /DE/ announced a restructuring affecting OKC (the employment of substantially all of OKC’s employees has terminated).
  - Type: restructuring
  - Affected area: OKC
  - Headcount: the employment of substantially all of OKC’s employees has terminated
  source text: In connection with the Asset Sale Transaction, the employment of substantially all of OKC’s employees has terminated, although a small number of employees are expected to continue for a period of time after the closing in order to assist the Company with the process of winding up the remaining business activities of OKC.
  evidence_url: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/0001104659-23-087056-index.htm
- Restructurings & Charges
  SERVOTRONICS INC /DE/ announced a impairment with charges of approximately $3,200,000 affecting Purchased Assets.
  - Type: impairment
  - Charge: approximately $3,200,000
  - Affected area: Purchased Assets
  source text: the Company will recognize an impairment charge of approximately $3,200,000 in the second fiscal quarter of 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/0001104659-23-087056-index.htm
- Restructurings & Charges
  SERVOTRONICS INC /DE/ announced a impairment with charges of approximately $1,100,000 affecting OKC Building (Franklinville, NY).
  - Type: impairment
  - Charge: approximately $1,100,000
  - Affected area: OKC Building (Franklinville, NY)
  source text: The Company currently estimates that the non-cash impairment charge for the OKC Building will be approximately $1,100,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/89140/000110465923087056/0001104659-23-087056-index.htm

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