Kadant Inc. has completed its acquisition of Balemaster for $54 million in cash, subject to certain customary adjustments. Balemaster will become part of Kadant's Material Handling reporting segment.

Balemaster is a leading U.S. manufacturer of horizontal balers and related equipment used primarily for recycling packaging waste at corrugated box plants and large retail and distribution centers. The company's revenue for the trailing twelve months ended June 30, 2021 was approximately $22 million.