Duravant to acquire Key Technology for $175m
The transaction, which is expected to close Q1, 2018, expands Duravant’s portfolio across the food processing sector with complementary products and applications.
Key Technology's headquarters is in Walla Walla, Washington, and it has facilities in the Netherlands, Belgium, Australia and Mexico.
“Key Technology’s culture of customer-centric innovation and their ability to successfully launch new technology platforms has been a driving force behind their impressive growth,” said Mike Kachmer, president and CEO, Duravant.
Jack Ehren, president andCEO, Key Technology, said Duravant’s strong commitment to investment and growth will enable Key to accelerate execution of its strategic plan and further enhance its customer partnerships.
Duravant serves customers and partners in over 190 countries worldwide across multiple sectors including food and beverage, agriculture, household goods, pharmaceuticals, distribution and industrials.
“The combined global infrastructure of Duravant and Key will help us advance our commitment to increased geographic market and new application penetration,” added Ehren.
Following the close of the transaction, Key Technology will become a member of the Duravant family of operating companies.
