Kadant Buys PAALGROUP's RT Holding For $58M

Kadant Inc.

announced on Monday it has acquired all of the outstanding shares of RT Holding GmbH, the parent corporation of a group of companies known as the PAALGROUP, for approx. €51 million in cash, or approx. $58 million. PAAL manufactures channel balers and related equipment used in the processing of recyclable and waste materials. The company is headquartered in Germany and has operations in Germany, the United Kingdom, France, and Spain. Jonathan W. Painter, president and CEO of Kadant Inc said "With its strong aftermarket business and emphasis on product innovation, PAAL is an excellent fit with Kadant." Shares of Kadant are down 0.29 percent today.