The 2020 Mid-Year Economic Update_long

KITO Americas to Acquire Peerless Industrial Group

The acquisition will expand KITOs North American reach.

KITO Americas, Inc. (TSE1: 6409), Manheim, PA, has agreed to acquire Peerless Industrial Group from WestView Capital Partners, Boston, MA. KITO currently operates the Harrington Hoists Inc. and KITO Canada businesses, providing powered and manual overhead lifting products in North America.

Peerless, Winona, MN, is a manufacturer of chain, overhead lifting, cargo control and traction products. The company operates three manufacturing locations and six distribution centers.

“Peerless’ product portfolio integrates well with our core overhead lifting customers and also allows us to diversify our customer base,” said Ned Hunter, KITO Americas’ president and CEO of Harrington Hoists Inc. “We expect to better serve our material handling customers by offering a much broader, high quality product range and also access new markets around the world through our global subsidiary operations and distribution networks.”

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