#USA #Nu Aire #Statesville #Kewaunee Scientific #Debt Refinancing

Kewaunee Scientific Achieves Significant Financial Milestone

Kewaunee Scientific Corporation, a prominent player in the design and manufacture of laboratory and healthcare furniture, recently commemorated a notable achievement in its financial endeavors. On December 4, 2025, the company declared the full repayment of Seller Notes connected to its acquisition of Nu Aire, Inc. This move signifies not only financial responsibility but also strategic foresight in enhancing the company’s operational stability.

The repaid Seller Notes amounted to an impressive $23 million and were originally set to mature on November 1, 2027. By clearing this debt ahead of schedule, Kewaunee has strategically positioned itself to pave the way for future growth opportunities. The funding for this repayment was facilitated through a recent amendment with PNC Bank, allowing Kewaunee to secure an additional $10 million term loan. This financial structure was critical in enabling the accelerated repayment of the Seller Notes while also lowering the overall debt load for the company, subsequently decreasing its effective interest rate and expected future interest expenses.

Donald T. Gardner III, Kewaunee’s Vice President and Chief Financial Officer, explained, "Our decision to complete the repayment early reflects our commitment to disciplined capital allocation and robust financial management. The continual strong performance of our core business and the fruitful acquisition of Nu Aire has afforded us the confidence and capability to operate with financial agility."

The acquisition of Nu Aire has proven to be not only successful but also synergistic, providing Kewaunee with essential laboratory products such as biological safety cabinets and CO2 incubators. This strategic purchase, made in November 2024, has greatly contributed to Kewaunee's overall operational efficiency. The merging of both companies now allows for a broader range of products that are critical in various sectors, including healthcare and research laboratories.

Furthermore, this debt repayment is anticipated to bolster Kewaunee's long-term financial health, allowing the company flexibility as it moves towards executing its strategic initiatives. With an eye on organic and inorganic growth, Kewaunee is looking to create significant value for its shareholders in the upcoming years.

The headquarters of Kewaunee Scientific Corporation is located in Statesville, North Carolina. The company's manufacturing facilities not only cater to the American market but also serve international clients, including operations in India and notable involvement in the Asian and African markets.

Looking ahead, Kewaunee's strategic planning is set to capitalize on emerging opportunities. The combination of disciplined cash management practices and the profitable integration of Nu Aire will likely result in sustained growth and further solidify Kewaunee's reputation as a leader in the laboratory furniture industry. For more information on Kewaunee Scientific and its offerings, potential stakeholders and interested customers can visit their official websites at Kewaunee and Nu Aire.