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Columbus McKinnon Corporation (Nasdaq: CMCO) has completed its acquisition of Kito Crosby Limited from funds managed by global investment firm KKR, sealing a transaction the company describes as a defining step in its evolution.

The move unites two major forces in the lifting and material handling industry, combining engineering depth with global scale. Company leaders say the transaction is expected to expand the combined enterprise’s footprint, strengthen margins and unlock significant shareholder value.

$70 Million in Synergies and Margin Expansion

Columbus McKinnon expects the acquisition to generate approximately $70 million in net annual run-rate cost synergies, with additional upside from potential revenue synergies. The company also anticipates improved Adjusted EBITDA margins as integration efforts take hold.

“This is a transformational moment for Columbus McKinnon,” said President and CEO David J. Wilson. He described the deal as a powerful alignment of innovation, technical expertise and customer-focused cultures aimed at advancing safety, reliability and performance across global markets.

Wilson added that the combination expands the company’s capabilities and accelerates its ambition to become a worldwide leader in intelligent motion solutions for material handling.

The acquisition follows the definitive agreement announced on Feb. 10, 2025. It cleared 14 regulatory review processes, including approval from the U.S. Department of Justice’s Antitrust Division under the Hart-Scott-Rodino Antitrust Improvements Act on Jan. 31, 2026.

New Executive Leadership Team Unveiled

With the closing complete, Columbus McKinnon introduced a newly structured Executive Leadership Team designed to guide the combined organization through its next growth phase.

David Wilson will continue as President and Chief Executive Officer, while Gregory Rustowicz will serve as Executive Vice President and Chief Financial Officer.

Regional leadership will include Appal Chintapalli, current President of the Americas; Yoshio Kito as President of Asia Pacific; and Wim Fabricius as President of Europe, the Middle East and Africa.

Jon Backes and Carlo Lonardi will maintain key leadership roles within the Americas organization as President of Americas Lifting Hardware and President of Americas Hoist & Cranes, respectively, both reporting to Chintapalli.

The executive group blends leaders from both legacy companies, bringing commercial, operational and functional expertise alongside decades of experience in industrial markets. Several executives will remain in advisory roles during a transition period in the coming months.

Wilson said the combined leadership team is positioned to execute on integration priorities, capture cost and revenue synergies and reduce the company’s Net Leverage Ratio. He also expressed appreciation to KKR and Kito Crosby’s leadership for preparing the business for its next chapter.

Board Expansion Following $800 Million Investment

As part of the financing for the acquisition, Clayton, Dubilier & Rice (CD&R) invested $800 million through a Series A cumulative convertible participating preferred share issuance.

In connection with that investment, Columbus McKinnon expanded its Board of Directors from nine to twelve members. Michael Lamach, Nate Sleeper and Andrew Campelli were appointed to the board. Each brings extensive experience partnering with management teams in the industrial and manufacturing sectors.

Advisors on the Transaction

J.P. Morgan Securities LLC served as financial advisor to Columbus McKinnon. Legal counsel was provided by DLA Piper LLP (US), Hodgson Russ LLP, Hogan Lovells US LLP and Skadden, Arps, Slate, Meagher & Flom LLP.

For Kito Crosby and KKR, Evercore and Goldman Sachs & Co. LLC acted as lead financial advisors, with UBS Investment Bank also advising. Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP served as legal advisors. Debevoise & Plimpton LLP advised CD&R, with Guggenheim Securities LLC acting as its financial advisor.

About the Companies

Columbus McKinnon designs and manufactures intelligent motion solutions that lift, move, position and secure materials in commercial and industrial settings. Its portfolio includes hoists, crane components, precision conveyor systems, rigging tools, light rail workstations and digital motion control systems.

Kito Crosby is regarded as a global leader in lifting and securement, with more than 260 years of innovation. Its portfolio includes well-known brands such as Kito, Crosby, Harrington, Gunnebo Industries, Peerless and eepos. With engineering, manufacturing and distribution operations worldwide, the company has long set quality benchmarks in demanding applications.

With the deal complete, columbus mckinnon acquires kito crosby in a move that reshapes the competitive landscape — a union of industrial heavyweights poised to lift the industry to new heights.