Columbus McKinnon to acquire STAHL Crane Systems
Columbus McKinnon Corporation has reached an agreement to purchase STAHL CraneSystems, a business of Konecranes Plc.
STAHL is a manufacturer of explosion-protected hoists and crane components and is well known for its custom engineering of lifting solutions and hoisting technology. STAHL serves independent crane builders and Engineering Procurement and Construction (EPC) firms, providing products to a variety of end markets including automotive, general manufacturing, oil & gas, steel & concrete, power generation as well as process industries such as chemical and pharmaceuticals. Konecranes is divesting STAHL as a result of the European Union anti-trust review related to their pending acquisition of Terex Corporation's Material Handling & Port Solutions business.
"We have long viewed STAHL as an ideal complement to Columbus McKinnon EMEA, as well as an excellent expansion of our global product offering," said Timothy T. Tevens, president and CEO of Columbus McKinnon. "Their strong position with wire rope and electric chain hoists in Europe immediately complements our leadership of handheld hoists in that region, and their broad portfolio of ATEX certified explosion-protected products serving the mining, oil & gas and chemical processing industries significantly extends our global offerings in capability and capacities. Equally important, Columbus McKinnon and STAHL are culturally aligned, as STAHL has a similar go-to-market strategy, produces high quality products and is focused on the total cost of ownership for their customers. They also have strong, established relationships with EPC firms for key end-user solutions."
Founded in 1876, STAHL has approximately 650 employees that support the manufacturing operation located in Germany and its nine affiliated sales companies around the world.
The all-cash transaction is valued at euros 224 million (~$240 million).