Getzville, NY-based motion technology manufacturer Columbus McKinnon Corp. agreed to acquire Kito Crosby Limited in an all-cash deal worth $2.7 billion.

Expected to be completed later in 2025, CM has secured $3.05 billion in financing from J.P. Morgan — including a $500 million revolving credit facility — and a $0.8 billion preferred equity investment from Clayton, Dubilier & Rice (CD&R). Upon completion of the transaction, CD&R will own an approximate 40% stake in the combined company.

CM is buying Kito Crosy from investment firm KKR, which has owned the company since 2013.

Texas-based Kito Crosby is a manufacturer and distributor of lifting, rigging, transporting and securing products. Some of the company’s leading brands include Kito, Crosby, Harrington, Gunnebo Industries and Peerless. The company was formed via the early 2023 combination of Richardson, TX-based The Crosby Group with Japan-based Kito Corporation. It rebranded as Kito Crosby in October 2023.

MDM’s 4Q24 M&A Report (store link) 

“Through this strategic combination, we’re creating a company that is extremely well-positioned to deliver real-world solutions for customers, with favorable tailwinds from megatrends, including reshoring, infrastructure investment, modernization of aging industrial facilities and rising automation needs due to labor shortages,” Columbus McKinnon President and CEO David Wilson said in a Feb. 10 news release. “This combination also unites two highly talented teams with deep technical expertise, customer-centric cultures and a shared vision for operational excellence focused on safety, productivity and uptime on behalf of our customers.”

Through its 2025 fiscal third quarter that ended Sept. 30, 2024, CM had trailing 12 months revenue of $1.0 billion. Meanwhile, Kito Crosby had 2024 revenue of $1.1 billion. CM said it expects the combined business to have an annual revenue of $2.1 billion; adjusted EBITDA of $486 million and adjusted EBITDA margin of 23%.

Take MDM’s 2025 Trends Survey: Help shape our editorial content and be entered to win a $100 gift card 

With the deal, CM essentially doubles in size. It gains more than 4,000 employees worldwide and approximately 40 factories, offices and distribution sites through the transaction, as well as an enhanced geographic reach, especially in Asia, while complementing its existing presence in Latin America, Europe, the Middle East and Africa.

“This deal brings together highly complementary, industry-leading brands, products and competencies with strong recurring sales dynamics,” Kito Crosby CEO Robert Desel added. “With the benefit of additional scale, and shared best practices and technology, we will be better positioned to meet our customers’ needs than ever before, simultaneously creating new opportunities for growth and development for our team members. We could not be more pleased to see these two great teams coming together.”