{"id":42778,"date":"2025-02-11T10:04:08","date_gmt":"2025-02-11T10:04:08","guid":{"rendered":"https:\/\/www.intelligentcio.com\/north-america\/?p=42778"},"modified":"2025-02-11T10:04:09","modified_gmt":"2025-02-11T10:04:09","slug":"columbus-mckinnon-to-combine-with-kito-crosby-delivering-compelling-value-creation","status":"publish","type":"post","link":"https:\/\/www.intelligentcio.com\/north-america\/2025\/02\/11\/columbus-mckinnon-to-combine-with-kito-crosby-delivering-compelling-value-creation\/","title":{"rendered":"Columbus McKinnon to combine with Kito Crosby delivering \u2018compelling value creation\u2019"},"content":{"rendered":"\n

Business combination pitched as materially improving scale and product scope.<\/em><\/p>\n\n\n\n

Columbus McKinnon, a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, today announced a definitive agreement under which Columbus McKinnon will acquire Kito Crosby from funds managed by leading global investment firm KKR in an all-cash transaction valued at $2.7 billion subject to customary post-closing purchase price adjustments.<\/p>\n\n\n\n

The company expects the deal to close later this calendar year, subject to regulatory approvals and satisfactory completion of customary closing conditions.<\/p>\n\n\n\n

“This is an important next step in further strengthening Columbus McKinnon’s position as a scaled, holistic provider of intelligent motion solutions in materials handling. We’ve long had a great respect for Kito Crosby’s strong portfolio of offerings. The business that the Kito Crosby management team, led by Robert Desel and Yoshio Kito, have built is exceptional and we look forward to welcoming them to the Columbus McKinnon team,” said David Wilson, President and CEO, Columbus McKinnon.<\/p>\n\n\n\n

“Through this strategic combination, we’re creating a company that is extremely well-positioned to deliver real-world solutions for customers, with favorable tailwinds from megatrends, including reshoring, infrastructure investment, modernization of aging industrial facilities and rising automation needs due to labor shortages. This combination also unites two highly talented teams with deep technical expertise, customer-centric cultures and a shared vision for operational excellence focused on safety, productivity and uptime on behalf of our customers.”<\/p>\n\n\n\n

Kito Crosby is a global leader in lifting solutions with multiple manufacturing assembly plants and nearly 4,000 employees serving over 50 countries. KKR has owned Kito Crosby since 2013 and in the time had delivered significant value creation, more than doubling revenue, quadrupling the number of employees while reducing injury rates and expanding into new product categories, end markets and geographies.<\/p>\n\n\n\n

In 2024, Kito Crosby generated $1.1 billion in revenue through its extensive global channel partner network. Together the combined company will be a leader in material handling solutions with greater scale and a strong presence in attractive verticals and target geographies, delivering exceptional innovation and products to customers.<\/p>\n\n\n\n

“We have long respected Columbus McKinnon. Our shared values of safety, quality, and a focus on our employees and customers will create value for all stakeholders,” said Robert Desel, CEO, Kito Crosby.<\/p>\n\n\n\n

“This deal brings together highly complementary, industry-leading brands, products and competencies with strong recurring sales dynamics. With the benefit of additional scale and shared best practices and technology, we will be better positioned to meet our customers’ needs than ever before, simultaneously creating new opportunities for growth and development for our team members. We could not be more pleased to see these two great teams coming together.”<\/p>\n\n\n\n

Brandon Brahm, Partner, KKR, said: “(This) announcement is a testament to the value we and the Kito Crosby team have created by transforming the business through organic initiatives, expanding global reach and pursuing strategic and accretive acquisitions. Kito Crosby is now better able to serve its customers with safety critical equipment than ever before, and the combination with Columbus McKinnon will further position the combined business to best serve all stakeholders.\u201d <\/p>\n\n\n\n

As part of the transaction, Columbus McKinnon has partnered with CD&R, a leading private investment firm with deep experience delivering growth and operational improvement in industrials and manufacturing companies.<\/p>\n\n\n\n

The transaction has been unanimously approved by the Board of Directors of Columbus McKinnon and the company intends to fund the acquisition through a combination of committed debt financing of $3.050 billion from J.P. Morgan including a $500 million revolving credit facility and $0.8 billion of perpetual convertible preferred equity investment from CD&R.<\/p>\n","protected":false},"excerpt":{"rendered":"

Business combination pitched as materially improving scale and product scope. Columbus McKinnon, a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, today announced a definitive agreement under which Columbus McKinnon will acquire Kito Crosby from funds managed by leading global investment firm KKR in an all-cash transaction valued at $2.7 billion subject to […]<\/p>\n","protected":false},"author":58,"featured_media":42779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7074,7274,1034,43],"tags":[2517,7997,7275,7998,5875],"class_list":["post-42778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-acquisitions","category-industrial-tech","category-north-america","category-top-stories","tag-acquisitions","tag-columbus-mckinnon","tag-industrial-tech","tag-kito-crosby","tag-kkr"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/posts\/42778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/users\/58"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/comments?post=42778"}],"version-history":[{"count":1,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/posts\/42778\/revisions"}],"predecessor-version":[{"id":42780,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/posts\/42778\/revisions\/42780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/media\/42779"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/media?parent=42778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/categories?post=42778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/north-america\/wp-json\/wp\/v2\/tags?post=42778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}