KMT designs and manufactures products using ultrahigh-pressure (UHP) pump technology and associated robotic systems for industrial manufacturing, surface preparation and food processing applications.
Headquartered in Baxter Springs, Kansas, KMT has an annual turnover of around US$160 million and employs more than 400 people. KMT’s products are available in more than 60 countries and are manufactured at facilities in the US, Sweden and China.
Richard Hoffman, a partner at AIP, said: “KMT is an engineering-centric business with cutting edge technology, highly respected brands, a large and loyal customer base, and an exciting new product development pipeline. AIP looks forward to partnering with management in the years to come in order to accelerate profitable growth by assisting in areas such as technology development, program management, quality systems, and technical service/field support. We look forward to joining this exciting industry in partnership with KMT management."
Nordstjernan CEO Tomas Billing said: “Nordstjernan first invested in KMT in 1999 when it was listed on the Stockholm Stock Exchange. In 2003 we guaranteed the new share issuance that enabled the purchase of the ultrahigh-pressure pump business, which today constitutes KMT, and we took the company private in 2007. Since 2003, the UHP pump business has grown on average by 8% organically per year. It has been a great journey and we would like to thank the management team and KMT employees for their contributions and dedicated work. We wish KMT and AIP the best of luck for the future.”