KKR-backed The Crosby Group to acquire KITO for $438m.

KKR-backed The Crosby Group, a lifting and material handling products manufacturer, agreed to acquire KITO, a material handling manufacturer, for $438m. “This is an extraordinary opportunity to bring together two companies with differentiated, industry-leading capabilities, to create exceptional value for all stakeholders: team members, channel partners, end users, and communities. We have long respected KITO as they exemplify our core values of safety, reliability, and innovation and are thrilled to combine with them to provide best-in-class products, solutions, and services for customers worldwide,” Robert Desel, The Crosby Group CEO.