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MILWAUKEE, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Twin Disc, Inc. (NASDAQ: TWIN), a global leader in power transmission technology for marine and land-based applications, announced today the successful completion of its $16.5 million acquisition of Kobelt Manufacturing Co. Ltd. (“Kobelt”), a Canadian company based in British Columbia that specializes in brake, control and steering systems for industrial and marine end markets.
Twin Disc's global presence will expand Kobelt's international reach, while Kobelt will contribute complementary products that diversify and enhance Twin Disc's portfolio in the industrial and marine sectors. Kobelt's extensive after-sales services, combined with its in-house foundry and bronze die casting capabilities featuring precision machining, assembly and testing, ensures complete quality control.
For the year ending December 31, 2024, Kobelt delivered approximately $14 million of revenue. The acquisition is expected to be immediately accretive to Twin Disc's U.S. GAAP earnings.
"We are excited to welcome Kobelt to the Twin Disc family of brands," stated John H. Batten, President and CEO of Twin Disc. "Acquiring a well-established company with longstanding relationships in 60 countries and a strong reputation that complements the Twin Disc brand. This acquisition expands our product offering further, enabling growth opportunities and partnerships through our global sales and service team."
Dave Bockhold, CEO of Kobelt, stated: "Twin Disc is the right fit for Kobelt. The complementary nature of our product lines, manufacturing capabilities, and culture positions us as an integrated systems supplier for the Marine and Industrial sectors."
Bockhold added, "Both organizations' extensive history, knowledge, and expertise will add value and expand opportunities to our combined customer base."
About Twin Disc
Twin Disc, Inc. designs, manufactures and sells marine and heavy-duty off-highway power transmission equipment. Products offered include marine transmissions, azimuth drives, surface drives, propellers and boat management systems, as well as power-shift transmissions, hydraulic torque converters, power take-offs, industrial clutches and control systems. The Company sells its products to customers primarily in the pleasure craft, commercial and military marine markets, as well as in the energy and natural resources, government and industrial markets. The Company’s worldwide sales to both domestic and foreign customers are transacted through a direct sales force and a distributor network. For more information, please visit www.twindisc.com.