Kadant to buy Birch Hill's Carmanah Design and Manufacturing for $54 mln

Westford, Mass.-based pulp and paper company Kadant Inc (NYSE: KAI) has agreed to acquire Carmanah Design and Manufacturing Inc, a Surrey, B.C.-based supplier of stranders and related equipment used in the production of oriented strand board, for $54 million. Carmanah is a portfolio company of Canadian mid-market private equity firm Birch Hill Equity Partners. In 2003, Birch Hill's predecessor, TD Capital Canadian Private Equity Partners, formed the company to facilitate a management buyout of CAE Wood Products GP, then a division of the forestry systems business of Saint-Laurent, Québec-based CAE Inc.

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