K-Tron International said Thursday it will acquire privately-held Premier Pneumatics for $27.6 million in cash.
Kansas-based Premier manufactures and markets line pneumatic conveying and bulk handling equipment for the North American market. K-Tron produces and services material handling equipment and systems for a wide variety of industrial markets, and has manufacturing facilities in the U. S., Switzerland and the United Kingdom.
"The acquisition of Premier significantly expands the scope of K-Tron's activities in the pneumatic conveying business, which we entered in 1997, and in the solids feeding business where K-Tron has been a global leader for many years with its volumetric and gravimetric screw and belt feeders,” K-Tron Chairman and CEO Edward B. Cloues, II said.
The combination will allow K- Tron and Premier to offer their customers integrated pneumatic conveying and feeding systems with engineering, manufacturing, and commissioning and after-sale services from a single source, something that is not widely available today, K-Tron said.Top operating management of Premier is expected to remain following the acquisition. For the trailing 12-month period ended August 31, 2006, Premier's unaudited revenues were approximately $25.8 million.