AUSTIN, Texas--(BUSINESS WIRE)--Owner Resource Group, LLC (“ORG”) announced today that ORG Opportunity Fund III, LP has sold K-Tec Earthmovers (“K-Tec” or the “Company”), a leading earthmoving equipment manufacturer, to Kinperium Industries, Inc. (“Kinperium”). K-Tec’s President, Mike Palitsky, along with the entire management team will continue to lead the company as they embark on their next phase of growth.
K-Tec and its related entities are industry-leading manufacturers of earthmoving scrapers and accessory products serving the construction, mining, and agriculture markets. Founded in 2000, K-Tec continues to expand both its product offerings and geographic coverage. In March 2020, K-Tec acquired Ashland Industries to create the market-leading scraper manufacturer and offer one of the broadest lines of earthmoving support equipment. The Company continues to invest heavily in research and development to provide the most robust and efficient products in the industry.
“We are extremely proud of the K-Tec management team and their accomplishments during our partnership with them. They established a new world-class manufacturing facility outside of Winnipeg, successfully acquired Ashland Industries and expanded internationally. They have executed tremendously, growing from a smaller regional company to a global leader in their industry,” said ORG Managing Director, Jonathan Gormin.
“With the support of Owner Resource Group, the management team was able to accelerate the growth of K-Tec. ORG supported our investment in people, acquisitions and technology to provide industry-leading products to the market. With our new partnership with Kinperium, we are excited to continue to further expand our product offerings and geographic coverage in the earthmoving industry,” said Mike Palitsky, President of K-Tec.
The transaction closed on January 31, 2022. The Company was advised by Houlihan Lokey LLC and its legal counsel was Queen Saenz + Schutz PLLC.
For additional information, please visit www.orgroup.com or contact Will Burnett (wburnett@orgroup.com or 512-505-4180).
Owner Resource Group
Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior outcomes to privately held businesses. ORG makes investments that enable business owners and management teams to pursue their objectives and accelerate the growth of their companies in a disciplined manner. ORG appreciates an owner's need for fairness, certainty, flexibility and confidentiality when considering a transaction. After a transaction, the ORG philosophy is to align our interests with management to support the existing culture and continued growth.
ORG is most helpful to businesses with the following aspirations:
» Business owners hoping to achieve a full or partial exit
» Businesses looking to expand their capabilities, offerings or geographic reach
» Management teams that would like to establish or increase their ownership in a business
K-Tec Earthmovers Inc. and Ashland Industries Inc.
Founded in 2000, K-Tec provides its customers with high quality scraper equipment and earthmoving accessories for purchase through their authorized dealers around the globe. K-Tec offerings include Direct Mount, Train, and ADT scrapers ranging from 28 to 63 cubic yards, and other earthmoving accessories to provide an efficient solution to various heavy construction and mining operations. K-Tec merged companies with Ashland in March 2020 to become the market leading scraper manufacturer in the world. Ashland Industries was established in 1953, and produces advanced dolly wheel, direct mount, and dump-style scrapers ranging from 3.5 to 34 cubic yards for the compact, agriculture, and industrial construction markets.
K-Tec and Ashland also offer a variety of earthmoving implements consisting of Land Levelers, Disc Harrows, and other support equipment. www.ktec.com and www.ashlandind.com
