BUFFALO, N.Y.–(BUSINESS WIRE)–Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer and manufacturer of intelligent motion solutions for material handling, today announced that it has closed the previously announced acquisition of montratec GmbH, a leading automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes. The Company has acquired montratec in 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. 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,” noted David J. Wilson, President and CEO of Columbus McKinnon.
montratec is a leading automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes. montratec provides its modular, intelligent monorail transport systems for the electric vehicle (EV), semiconductor, electronics, life sciences, aerospace and other industries.
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning, and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.columbusmckinnon.com.
