Kinperium Industries has announced that it has acquired K.A. Group, consisting of K-Tec Earthmovers and Ashland Industries.
Kinperium partnered with the owners and management of K-Tec & Ashland to acquire a majority stake of the company.
K-Tec & Ashland are manufacturers of pull-pan earthmoving scrapers and implements for the construction, mining, and agriculture end-markets.
The two scraper brands previously joined forces in a 2020 merger, providing for production facilities in Rosenort, Manitoba, Canada and Ashland, Wisconsin, USA.
With the aggressive growth goals the company has set out, both factories and all current employees are geared up to continue their efforts under new ownership.
The factories on both sides of the border are each looking to add additional staff to their teams and future facility expansion projects to fulfill the existing order book of earthmoving equipment.
“Our new partnership with K-Tec and Ashland is truly groundbreaking,” said Bill Kostenko, Chairman of Kinperium Industries Inc. “Ashland has a deep heritage of success in the agricultural and industrial construction markets, while K-Tec’s quality, rugged earthmoving equipment excels in the heavy construction and mining markets. We believe that these complementary brands are well positioned to expand their industry leading market share, and Kinperium looks forward to supporting the long-term growth of the organization. One of the major factors that attracted us to the K.A. Group is the strength and enthusiasm of management team. We look forward to supporting this existing team to continue the momentum that they have created for the K.A. Group.”
“Kinperium is a family office which focuses on the generational, stable success of businesses.” said Mike Palitsky, President/CEO of K.A. Group. “I firmly believe that this structure is exactly in-line with the culture that we are enjoying at K.A. Group today. From the start, we identified Kinperium as our number one partner candidate. We are thankful that we can now begin our working relationship together for a promising future of long-term growth.”
“K.A. Group also sincerely thanks our previous owner group, Owner Resource Group (“ORG”) for their foundational support, connections, and structure that they established for our company to flourish over the last 3 years.”
Kinperium closed the transaction on January 31, 2022. Financial terms of the deal were not disclosed.