Columbus McKinnon Corporation has announced a definitive agreement to acquire Kito Crosby Limited from KKR in an all-cash transaction valued at $2.7 billion. The deal is expected to close later this year, subject to regulatory approvals and customary closing conditions. Columbus McKinnon’s President and CEO, David Wilson, stated that the combination of both companies will enhance their ability to provide innovative solutions for customers while addressing key industry trends such as reshoring, infrastructure investment, and increased automation.
Kito Crosby has expanded significantly under KKR’s ownership, doubling its revenue and growing its workforce while expanding into new markets. In 2024, the company generated $1.1 billion in revenue through its global network. The acquisition will allow both companies to leverage shared expertise and resources to better serve customers. Columbus McKinnon has also partnered with private investment firm CD&R, which will provide strategic support. Upon closing, CD&R executives Mike Lamach, Nate Sleeper, and Andrew Campelli will join Columbus McKinnon’s Board of Directors to help guide the company’s future growth.
