CD&R-backed Columbus McKinnon to acquire Kito Crosby from KKR for $2.7bn.

CD&R-backed Columbus McKinnon, a designer, manufacturer and marketer of intelligent motion solutions for material handling agreed to acquire Kito Crosby, a provider of lifting solutions, from KKR, a global private equity firm, for $2.7bn. "This is an important next step in further strengthening Columbus McKinnon's position as a scaled, holistic provider of intelligent motion solutions in materials handling. We've long had a great respect for Kito Crosby's strong portfolio of offerings. The business that the Kito Crosby management team, led by Robert Desel and Yoshio Kito have built is exceptional, and we look forward to welcoming them to the Columbus McKinnon team," David Wilson, Columbus McKinnon President and CEO.