01:42 PM EDT, 06/03/2024 (MT Newswires) -- Kadant ( KAI ) said Monday it has completed the acquisition of Dynamic Sealing Technologies and affiliates for around $55 million in cash.

The acquisition was funded through a revolving credit facility, Kadant ( KAI ) said. Dynamic Sealing focuses on engineered fluid sealing and transfer solutions for rotating applications.

Dynamic Sealing and affiliates will join Kadant's ( KAI ) Flow Control reporting segment.

Shares of Kadant ( KAI ) were down about 2.5% in recent trading.

Price: 279.00, Change: -7.01, Percent Change: -2.45