27/12/2016 - 19:46 pm

Columbus McKinnon Agrees to Buy Stahl CraneSystems

Columbus McKinnon Corp. will purchase Stahl CraneSystems, a business of Konecranes Plc., in an all-cash transaction value for the acquisition is €224 million ($240 million). 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.

Timothy Tevens, president and CEO of Columbus McKinnon, said: “We have long viewed Stahl as an ideal complement to Columbus McKinnon EMEA, as well as an excellent expansion of our global product offering. 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.”

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. For the trailing 12-month period that ended Sept. 30, 2016, Stahl had total revenue of approximately €155 million ($166 million) and EBITDA of approximately €29 million ($31 million), or about 19% of revenue. Geographically, STAHL revenue is approximately 71% EMEA, 16% Americas and 13% Asia Pacific.

Columbus McKinnon’s acquisition of Stahl is expected to close between Jan. 31, 2017, and April 30, 2017. The closing is subject to European Commission approval, the successful closing of the pending acquisition of certain Terex subsidiaries by Konecranes, and other customary conditions.

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