High Street Capital acquires Knight Material Technologies from Koch
High Street Capital has acquired Knight Material Technologies (KMT) from Koch Engineered Solutions, a subsidiary of Koch Industries.
The financial terms of the deal were not revealed.
Koch Industries will continue to be an important customer of Knight Material Technologies, which was formerly called Koch Knight.
Established in 1910, Knight Material Technologies is engaged in designing, manufacturing, installation, and repair of custom acid-resistant linings that are used in highly corrosive processes employed by the chemical and mining industries around the world.
The company is based in East Canton, Ohio.
High Street Capital said that it plans to invest in Knight Material Technologies’ technology, innovation plan as well as infrastructure to expand its market share.
The existing management team of Knight Material Technologies will be retained with the company intending to see that its services and materials continue at present production levels without any interruptions.
Kevin Brooks — President of Knight Material Technologies said: “We look forward to this new opportunity.
“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.”
High Street Capital said that the transfer of ownership of Knight Material Technologies aligns with other firms in its portfolio of industrial manufacturers, service organizations, and processors.
Matt Laffey — Principal at High Street Capital said: “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.
“We anticipate supporting management’s growth plan immediately by investing in new product technologies and infrastructure to capture opportunities in the market.”