KMT Group, a Baxter Springs manufacturer, sold to American Industrial Partners

Swedish investment company Nordstjernan has agreed to sell all of the shares of KMT Group, which has its headquarters in Baxter Springs, to American Industrial Partners, according to a news release.

KMT, which develops and manufactures ultra high pressure pumps and robotic systems, has more than 400 employees and its products are available in more than 60 countries. Its products are manufactured in the U.S., Sweden and China.

The value of the sale is about $147.5 million, according to the release.

Nordstjernan CEO Tomas Billing said in the release that the company first invested in KMT in 1999 when it was listed on the Stockholm Stock Exchange and that since 2003, the ultra high pressure pump business has grown an average of 8 percent annually.

According to American Industrial Partners’ website, the private equity firm “makes control investments in North American-based industrial businesses serving domestic and global markets,” managing more than $1.1 billion in equity capital.