That purchase represents a 6.4-times multiple of KMT’s adjusted 2012 EBITDA.
KMT, which was previously owned by family controlled investment company Nordstjernan, has an annual turnover of about $160m according to a statement from the business.
AIP partner Richard Hoffman 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.”
The firm is currently investing from its fifth fund which it closed on $700m in 2011, easily beating its $500m target.
It looks to acquire control positions in North American-headquartered industrial companies with sales ranging from $100m to $500m.
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