Kennametal acquires Deloro Stellite for $358 million

LATROBE, Pa.—Kennametal Inc. has acquired the Deloro Stellite Group from Duke Street Capital for more than CAN$358 million.

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 with annual sales of more than $284 million.

The company employs about 1,300 people at seven facilities in the U.S., Canada, Germany, Italy, India and China.

Kennametal is a global supplier of tooling and industrial materials, employing 11,000 people worldwide.