Kinperium Industries has partnered with the owners and management of K-Tec Earthmovers and Ashland Industries, K.A. Group, to acquire a majority stake of the pull-pan earthmoving scrapers and implements manufacturers. The financial terms of the deal, which closed January 31, were not disclosed.
The two scraper brands merged in 2020, maintaining production facilities in Rosenort, Manitoba, Canada and Ashland, Wisconsin. Under the new ownership, both locations plan to add staff and expand their manufacturing facilities to fulfill the existing order book of earthmoving equipment and meet aggressive new production goals.
“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 the 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 and 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 for their foundational support, connections and structure that they established for our company to flourish over the last three years.”
Kinperium Industries is a family office that invests in long-term sustainable businesses with strong management teams and potential for growth. Existing Kinperium investments include Blue Giant Equipment Corporation, Blue Giant Lifts and United Rotary Brush Corporation.