Pacific Avenue Capital Partners to acquire US power chain hoist and chain manufacturing operations of Columbus McKinnon Corporation for $210m.

Pacific Avenue Capital Partners, a private equity firm, agreed to acquire US power chain hoist and chain manufacturing operations of Columbus McKinnon Corporation, a designer, manufacturer and marketer of intelligent motion solutions for material handling, for $210m. "We believe that the Divestiture simplifies the portfolio, reduces debt and will expedite progress towards the closing of the Acquisition. While these product lines, the Damascus and Lexington facilities, and the teams that will be transitioning have been core to our legacy business, we believe the pro forma combined business inclusive of Kito Crosby will enable an even more compelling customer value proposition over time. We continue to advance towards the closing of the Acquisition, bringing together two industry-leading teams, with greater scale and combined capabilities that we believe will drive value for all our stakeholders," David Wilson, Columbus McKinnon President and CEO.