KMT Gets Aqua-Dyne

STOCKHOLM, Sweden – KMT (Karolin Machine Tool AB) acquired Houston-based Aqua-Dyne, a manufacturer of high-pressure waterjet systems and accessories, early last month for $10 million.
The acquisition gives KMT access to a new growing market segment with significant potential, according to the company, and will create synergies with KMT Waterjet Systems Inc. of Baxter Springs, Kan. Aqua-Dyne will be a part of the Waterjet Cutting Product Area for the Stockholm-based waterjet, grinding and cutting implements company.
Aqua-Dyne, with annual sales of approximately $8 million, offers products used in surface preparation, cleaning and concrete removal (hydro-demolition). The global market size is estimated at $330 million, with an annual growth rate of seven percent.
Aqua-Dyne has a staff of 35 employees, with an operating margin of approximately 12 percent. More than half of the sales are derived from the aftermarket, and the business has an installed base of approximately 5,000 pumps.
“The acquisition of Aqua-Dyne significantly increases our market potential in the waterjet area,” says Lars Bergström, president/CEO of KMT. “By combining KMT Waterjet Systems’ existing organization, international experience and distribution channels with Aqua-Dyne’s strong brand, we see considerable growth opportunities worldwide.”