AUSTIN, Texas--(BUSINESS WIRE)--Owner Resource Group, LLC (“ORG”) announced today it has acquired K-Tec Earthmovers (“K-Tec”), an industry leading manufacturer of pull-pan earthmoving scrapers and accessories for the construction, mining, and agriculture end-markets, among others.
Austin-based ORG partnered with the owners and management of K-Tec to acquire a majority stake of the company. Founded in 2000, K-Tec has grown to be an industry leader with a reputation for product excellence and innovation.
“We are excited about our partnership with K-Tec,” said ORG Managing Director Jon Gormin. “K-Tec has an outstanding track record of product innovation, manufacturing excellence, and responsive customer service. We believe the company is well positioned to build on its past success and look forward to supporting their continued growth.”
Benefitting from strong equipment dealer relationships in the United States, Canada, and internationally, the Company has grown consistently since its founding and manufactures a variety of earthmoving scrapers and land levelers. K-Tec’s high-capacity, minimal maintenance, lightweight, and durable scrapers have proven to work across a wide range of applications and soil types. K-Tec offers the largest scrapers in the marketplace backed by an industry leading 3-year structural warranty.
“I’ve gotten to know Owner Resource Group over an extended period of time through their involvement in our industry,” said Russ Goosen, CEO of K-Tec. “ORG shared a vision of growth with our entire team and ORG can bring resources to expedite our growth trajectory. ORG’s alignment with K-Tec’s core values and support of the current management team further strengthened our belief in the mutual benefits of our partnership.”
ORG led the transaction which received additional financing support from Cadence Bank NA. The transaction closed on June 29, 2018.
Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior, enduring results to privately held businesses. ORG partners with business owners and management teams, leveraging our shared values to help businesses pursue their objectives and accelerate the growth of their companies in a disciplined manner.
For additional information, please visit www.orgroup.com.