Columbus McKinnon has acquired STAHL CraneSystems

Columbus McKinnon Corporation has completed its acquisition of STAHL CraneSystems.

Timothy T. Tevens, president and CEO of Columbus McKinnon, notes that STAHL brings a well-established brand, an excellent reputation for quality and strong customer relationships. "Combined with our Magnetek acquisition, we have measurably expanded our value proposition for our customers.

"There are several opportunities to create a stronger combined business, including expanding the scale and scope of the STAHL product platforms into emerging markets using our established global sales force, and the sharing of intelligence and engineering know-how among our businesses, including smart hoist technology. We believe we have laid the foundation for years of success through global collaboration to generate long-term value for our customers, employees and investors."

Columbus McKinnon has acquired all of the issued and outstanding capital stock of the STAHL CraneSystems business, including STAHL CraneSystems GmbH and nine STAHL affiliates, for an all-cash purchase price of EUR224 million (USD240 million) net of cash and debt acquired from Konecranes Plc.

The STAHL divestment was prompted by the European Commission's approval of Konecranes' acquisition of Terex Corporation's MHPS business, which was conditional on Konecranes divesting its STAHL CraneSystems business.

In early January, Terex completed the sale of its Material Handling and Port Solutions business (MHPS) to Konecranes.