Kewaunee Scientific agrees to buy Nycom for $55 million

Kewaunee Scientific, the Statesville, North Carolina laboratory furniture maker listed on Nasdaq as KEQU, has signed a definitive agreement to acquire Nycom, Inc., which it describes as the largest lab dealer in the USA. Nycom provides laboratory and interior construction services for research, healthcare and educational facilities.

The initial base purchase price is $55 million, subject to adjustments tied to Nycom's trailing 12-month or 2026 Adjusted EBITDA and customary working capital, cash, debt and expense items. Of the price, $20 million will be paid in a subordinated promissory note and $5 million in newly issued Kewaunee common stock, with the rest in cash and PNC Bank borrowings. Closing is expected in the fourth quarter of fiscal 2027.

Kewaunee said the deal will combine its manufacturing capabilities with Nycom's project delivery and aims to build a larger North American business. K&L Gates LLP advised Kewaunee, and PNC Bank is expected to provide financing.