CMCO to Combine with Kito Crosby

Columbus McKinnon (CMCO) has entered into a definitive agreement to combine with Kito Crosby in an all-cash transaction for approximately $2.7 billion.

David Wilson, president, CEO at CMCO, said: “We’re confident this deal will advance our ability to deliver quality products to even better meet our customers’ material handling needs.”

Kito Crosby is a global leader in lifting solutions with a global manufacturing footprint serving over 50 countries. This combination unites two highly talented teams with deep technical expertise in the lifting industry with a relentless focus on safety, productivity, and uptime. 

Wilson continued: “This complementary portfolio not only provides our customers with significant breadth and depth of product offerings, but it expands our collective global market presence, combining Kito Crosby’s strong footprint in Asia with Columbus McKinnon’s strength in Latin America and EMEA. By combining the strengths of our businesses and leveraging best practices across operational excellence, customer service and technology, we will be positioned to serve our customers better than ever before.”

Columbus McKinnon has entered into a definitive agreement to combine with Kito Crosby in an all-cash transaction for approximately $2.7 billion.

It is expected that the acquisition will close later this calendar year, subject to all regulatory approvals and completion of normal closing conditions. Until the transaction is complete, Columbus McKinnon and Kito Crosby will continue to operate as independent companies, so things will remain business as usual.