- Live Ventures Inc (NASDAQ:LIVE) subsidiary, Precision Marshall, has acquired all of the outstanding stock of The Kinetic Co Inc for about $26 million.
- Greendale, Wisconsin-based Kinetic was founded by the Masters family in 1948. Kinetic manufactures more than 90 types of knives and numerous associated parts. Kinetic employs approximately 100 non-union employees.
- The acquisition is expected to increase the company's steel manufacturing segment's annual revenues by about $20 million.
- Kinetic will continue to operate as a standalone business.
- The company financed the deal with a combination of third-party bank and seller debt, a sale-leaseback of real estate, and cash.
- Live Ventures held $6.2 million in cash and equivalents as of March 31, 2022. It had cash availability under its various lines of credit of $31.8 million.
- Price Action: LIVE shares are trading lower by 1.61% at $24.99 on the last check Thursday.
- Photo Via Company
