K-Tec and Ashland acquired by Kinperium Industries
By Rock to Road staff
By Rock to Road staff
Kinperium Industries has announced it has acquired K.A. Group, which includes K-Tec Earthmovers and Ashland Industries.
K-Tec and Ashland are manufacturers of pull-pan earthmoving scrapers and implements for the construction, mining and agriculture end-markets.
The two brands merged in 2020, providing production facilities in Rosenort, Manitoba, and Ashland, Wisconsin. K.A. Group was owned by Owner Resource Group (ORG) before its recent acquisition. Kinperium closed the transaction on Jan. 31. Financial terms of the deal were not disclosed.
“Our new partnership with K-Tec and Ashland is truly ground-breaking,” said Bill Kostenko, chairman of Kinperium Industries. “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.”
The K-Tec and Ashland factories on both sides of the border plan to add additional staff to their teams, and future facility expansion projects to fulfill the existing order book of earthmoving equipment.
“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,” Kostenko said. “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.”
With a global network of equipment dealer relationships, K.A. Group has grown consistently by developing and manufacturing a variety of earthmoving scrapers and implements.
“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.”
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 LLC and United Rotary Brush Corporation.