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Columbus McKinnon Corporation (NASDAQ: CMCO) announced plans to acquire Kito Crosby from KKR & Co LP (NYSE: KKR) in a $2.7 billion all-cash deal. The acquisition will expand Columbus McKinnon’s portfolio of crane and material handling brands, which includes CM, STAHL CraneSystems, Yale, and Magnetek.
The company expects the deal to generate approximately $70 million in cost synergies and become cashflow accretive within two years. Columbus McKinnon will finance the acquisition through $2.6 billion in committed debt. The deal is expected to close by late 2025, pending regulatory approvals.
This acquisition strengthens Columbus McKinnon’s position in the global crane and material handling market, enhancing its capabilities and product offerings. The move comes amid a slowdown in industrial demand, with the company reporting weaker-than-expected earnings for the December quarter due to softer orders in the Americas. Uncertainty surrounding U.S. President Donald Trump’s economic policies has contributed to the slowdown.
Despite near-term challenges, the acquisition is expected to drive long-term growth and efficiency for Columbus McKinnon, reinforcing its competitive edge in the industry.
