Columbus McKinnon closes montratec acquisition
Columbus McKinnon Corp., a designer and manufacturer of intelligent motion solutions for material handling, has closed the previously announced acquisition of montratec GmbH, an automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes.
It was an all-cash transaction for approximately $110 million at current exchange rates. The acquisition includes an earnout in an amount expected not to exceed $14 million based on future EBITDA performance of montratec.
“We are excited to have the montratec team join Columbus McKinnon," said noted David J. Wilson, president and CEO of Columbus McKinnon. "Their asynchronous intelligent automation and monorail transport systems further strengthen our precision conveyance and automation offerings while also opening the door for greater scale in Europe. This acquisition advances our strategy to expand our presence in attractive markets with strong secular tailwinds, such as life sciences, semiconductor and electronics. We expect their growth and margin profile to enhance our efforts to drive stronger earnings power and advance the transformation of Columbus McKinnon as a leading intelligent motion solutions provider for material handling.”
INDUSTRIAL SUPPLY MAGAZINE
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