Crosby buys into Verton Technologies
Thursday, 18 February 2021
Brisbane, Qld, Australia
US-based The Crosby Group, a global leader in lifting, rigging and load securement hardware, has completed a significant investment in Verton Technologies. Australian-based Verton has developed and commercialised disruptive advancements in load orientation technology that remove the need for human-held tag lines in lifting applications. These innovations play a critical role in improving the safety and productivity of global lifting operations.
The Crosby Group and Verton will collaborate in the market to accelerate the adoption of the load orientation technology. By leveraging The Crosby Group's global footprint, Verton will bring an elevated level of safety to an increasing number of workers.
Robert Desel, CEO of The Crosby Group, sees the investment as "a perfect strategic fit due to our common end-user base and our shared values of safety, reliability and innovation".
Trevor Bourne, CEO for Verton, says: "With this new partnership, Verton can dramatically increase the pace of innovation and the penetration of our products in the market. As a global leader with strong brand recognition, The Crosby Group creates an exciting platform for Verton's future."
The investment is Crosby's fourth transaction in the past 24 months, including the acquisitions of Straightpoint, Gunnebo Industries and Feubo.