Kadant Inc. has entered into a definitive agreement to acquire Joh. Clouth GmbH & Co. KG and its affiliates for approximately Euro 78 million in cash, subject to certain customary adjustments. Clouth will become part of Kadant’s Flow Control reporting segment upon the closing, which is expected to occur in the 3Q 2021.
Clouth is a leading manufacturer of doctor blades and related equipment used in the production of paper, packaging, and tissue.
“Our acquisition of Clouth brings together two global market leaders to create an even stronger portfolio of doctor blades used in creping, scraping, cleaning, and coating applications,” said Jeffrey L. Powell, president and CEO of Kadant Inc. “Clouth’s first-class management team has built a solid reputation in its core markets and established a formidable presence in Europe, Asia, and North America with 92% of its revenue from parts and consumables. We are delighted to welcome Clouth employees to the Kadant family.”
Clouth was founded in 1874 in Germany and has 205 employees based in Germany and Poland. The company had revenue of approximately Euro 41 million in 2020.
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide.
