Columbus McKinnon completes acquisition of Kito Crosby
Columbus McKinnon Corp., a designer, manufacturer, and marketer of intelligent motion solutions for material handling, has completed its acquisition of Kito Crosby from funds managed by global investment firm KKR.
"This is a transformational moment for Columbus McKinnon, expanding our offerings and scale to further our vision of becoming a global leader in intelligent motion solutions for materials handling," said President and CEO David J. Wilson. "This transaction brings together two innovative companies with industry-leading technical expertise, customer-centric cultures and a shared vision for operational excellence to drive new levels of safety, reliability and performance for customers across the globe. We're very excited to officially welcome Kito Crosby to our global team as we combine the best of our collective businesses and set a new standard of excellence across the industry."
Columbus McKinnon announced on February 10, 2025, that it had entered into a definitive agreement to acquire Kito Crosby.
Executive Leadership Team
In conjunction with the closing, Columbus McKinnon announced a new executive leadership team, designed to lead the combined organization into its next phase of growth. The team will be comprised of leaders from both Columbus McKinnon and Kito Crosby, who bring deep commercial, operational and functional expertise, proven track records in the industrials sector and a rich legacy of innovation.
David Wilson will serve as president and CEO and Gregory Rustowicz will serve as executive vice president and chief financial officer. Appal Chintapalli, the company's current president of the Americas will be joined by Yoshio Kito, president of Asia Pacific, and Wim Fabricius, president of Europe, the Middle East & Africa, to serve as the company's regional business leaders. Jon Backes and Carlo Lonardi will continue to serve in significant leadership roles within the Americas organization, president of Americas Lifting Hardware and president of Americas Hoist & Cranes, respectively, reporting to Appal Chintapalli.
"Built on a foundation of shared values and guided by these leaders, our team is well-positioned to deliver enhanced value for our customers and shareholders, combining the best of both organizations to accelerate innovation in material handling solutions," said Wilson. "I'm confident that we will leverage our industry-leading expertise to deliver on our most critical initiatives, including successfully integrating our business, realizing cost synergies, generating revenue synergies and reducing our Net Leverage Ratio."
INDUSTRIAL SUPPLY MAGAZINE
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