Kennametal Inc. signed a definitive agreement to purchase the Deloro Stellite Group from Duke Street Capital for approximately $350 million. The acquisition, which is expected to close in 60 to 90 days, remains subject to customary regulatory approval and negotiated conditions of closing. U.K.-based Deloro Stellite is a global manufacturer and provider of alloy-based critical wear solutions for extreme environments involving high temperature, corrosion and abrasion. The company employs approximately 1,300 people across seven primary operating facilities globally, including locations in the U.S., Canada, Germany, Italy, India and China.
Through proprietary metal alloys and materials
expertise as well as specialized engineering design and fabrication
capabilities, Deloro Stellite delivers value-added, tailored wear solutions for
customers in Kennametal’s current end markets of oil/gas, power generation,
transportation and aerospace. According to Kennametal, the addition of
world-class surface technology and materials science expertise will enhance the
range of productivity solutions provided to its customers in extreme wear