High Street Capital (HSC) alongside Wells Fargo Strategic Capital is pleased to announce the acquisition of Knight Material Technologies (KMT), formerly Koch Knight, LLC, a Koch Engineered Solutions (KES) company and subsidiary of Koch Industries, Inc. Koch will remain a key customer of KMT, and the two companies will continue to maintain a strong relationship.
High Street Capital intends to invest in KMT’s technology, innovation plan and infrastructure to grow its market share, relying on its existing management team and employees. The current management team will remain in place and KMT has plans to ensure services and materials continue at current production levels without interruption.
“We look forward to this new opportunity with High Street Capital,” said Kevin Brooks, President of KMT. “Knight Material Technologies will be in a position to take advantage of new opportunities and ideas in an entrepreneurial environment. In addition, the investment will enable us to expand manufacturing operations, including workforce and vendor relations.”
The transfer of ownership aligns with other companies in the High Street Capital portfolio of industrial manufacturers, processors and service organizations. The equity firm has a long history of investing and growing niche manufacturing businesses.
“Knight Material Technologies is an ideal partner for High Street Capital – they are a world class service provider with superior products and an outstanding reputation, and that only comes from having really great people throughout the company,” stated Matt Laffey, Principal at High Street Capital. “We anticipate supporting management’s growth plan immediately by investing in new product technologies and infrastructure to capture opportunities in the market.”
Demand for KMT products and services has been increasingly growing during the past few years. As a result of the change in ownership, the company will be well-positioned to expand manufacturing production, including the popular Flexeramic® ceramic structured packing systems and other proprietary materials.
Please contact Matt Laffey (Matt@HighStreetCapital.com) with any questions or related opportunities that might be a fit for KMT.
Separately, we are seeking other new platform investment opportunities for Fund V in the areas of outsourced business services, niche manufacturing, and value-added distribution. Please contact us for businesses with revenues between $10 million and $100 million where our capital, experience, and ideas could be used to leverage management’s capabilities to drive future growth.
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About Knight Material Technologies: Founded in 1910, KMT designs, manufactures, installs and repairs custom acid-resistant linings used in highly corrosive processes for the chemical and mining industries worldwide. Headquartered in East Canton, OH, the company sells products in more than 40 countries with sales offices in Australia and Chile and a fabrication shop in Baytown, Texas. In addition, KMT produces industry-leading ceramic packing media for chemical process and regenerative thermal oxidation systems with customers in a wide range of industrial applications. To learn more about KMT, visit www.KnightMaterials.com.
About High Street Capital: High Street Capital is a 25-year-old private equity firm based in Chicago with a long track history of successfully investing and growing manufacturing businesses. To learn more about High Street Capital, its investment approach and portfolio, visit www.HighStreetCapital.com.
About Koch Engineered Solutions: Based in Wichita, Kansas, KES is a subsidiary of Koch Industries, one of the largest private companies in the world. More information is available at KochEngineeredSolutions.com