Columbus McKinnon Corporation (NasdaqGS:CMCO) agreed to acquire Kito Crosby Limited from KKR & Co. Inc. (NYSE:KKR) for $2.7 billion on February 10, 2025. A cash consideration of $2.7 billion will be paid by Columbus McKinnon Corporation towards common equity of Kito Crosby Limited. Columbus McKinnon intends to fund the acquisition through a combination of committed debt financing of $3.050 billion from J.P. Morgan including a $500 million revolving credit facility and $0.8 billion of perpetual convertible preferred equity investment from CD&R. Columbus McKinnon will pay a termination fee of $162 million. For the period ending December 31, 2024, Kito Crosby Limited reported a revenue of $1.1 billion. The consideration represents 8x trailing twelve months adjusted EBITDA.

The transaction is subject to regulatory approvals and satisfactory completion of customary closing conditions. The transaction has been unanimously approved by the Board of Directors of Columbus McKinnon. On May 28, 2025, Columbus McKinnon and KKR each received a request for additional information and documentary material from the Antitrust Division in connection with the Antitrust Division?s review of the Acquisition. The Company expects the deal to close later in calendar year 2025. As of January 14, 2026, the transaction is expected to close within the first quarter of calendar year 2026. The transaction is expected to be accretive to Columbus's Adjusted Earnings Per Share in the first year after closing and grow over time as synergies are achieved. On January 29, 2026, the Justice Department's Antitrust Division announced that it will require Columbus McKinnon Corporation to divest its power chain hoist and chains businesses and related assets to Pacific Avenue Capital Partners LLC in order to resolve antitrust concerns arising from the transaction. Additionally, the Antitrust Division filed a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block the proposed transaction. As of February 2, 2026 Columbus McKinnon Corporation has received clearance from the Antitrust Division of the U.S. Department of Justice, the Company has now obtained all regulatory approvals relating to the Acquisition.

J.P. Morgan Securities LLC is acting as the financial advisor to Columbus McKinnon. James Kelly, Ilya Bubel, Peter Phillips, Stephen Alicanti, Jamie Knox, and Sidney Burke of DLA Piper LLP (US) and Hogan Lovells US LLP are acting as legal advisors to Columbus McKinnon. Ira Wolfson and Daniel Levy of Evercore and Colin Convey, Emmanuel Lamouroux of Goldman Sachs & Co. LLC are acting as financial advisors for Kito Crosby and KKR. Jennifer Perkins, Andrew Arons, Colin Zelicof, Giorgia Nagalli, Joshua Korff, Ross M. Leff, Ian John, and Stephen Mohr of Kirkland & Ellis LLC is acting as its legal advisor for Kito Crosby and KKR. Debevoise & Plimpton LLP is acting as legal advisor for CD&R, with Guggenheim Securities LLC acting as its financial advisor. UBS Investment Bank is acting as financial advisor to Kito Crosby and KKR. Simpson Thacher & Bartlett LLP represented J.P. Morgan Securities LLC in connection with the committed financing for the acquisition of Kito Crosby Limited. Uri Herzberg, Katherine Durnan Taylor, Kevin Schmidt, Brett Novick, Sarah Burke, Morgan Hayes, Joshua Samit, Michael Bolotin, Tim Cornell, Timothy McIver, Sergej Bräuer, Kyra Bromley, Anne-Mette Heemsoth, and Stuart Hammer of Debevoise & Plimpton LLP advised CD&R in connection with its investment in Columbus McKinnon.

Columbus McKinnon Corporation (NasdaqGS:CMCO) completed the acquisition of Kito Crosby Limited from KKR & Co. Inc. (NYSE:KKR) on February 4, 2026. The Acquisition was approved pursuant to 14 regulatory review processes, including clearance by the Antitrust Division of the U.S. Department of Justice under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, on January 31, 2026. David Wilson will serve as President and Chief Executive Officer and Gregory Rustowicz will serve as Executive Vice President and Chief Financial Officer. Appal Chintapalli, the Company's current President of the Americas will be joined by Yoshio Kito, President of Asia Pacific, and Wim Fabricius, President of Europe, the Middle East & Africa, to serve as the Company's regional business leaders. Jon Backes and Carlo Lonardi will continue to serve in significant leadership roles within the Americas organization, President of Americas Lifting Hardware and President of Americas Hoist & Cranes, respectively, reporting to Appal Chintapalli. These business leaders will be complemented by an exceptional set of functional leaders from both Kito Crosby and Columbus McKinnon who will round out the Executive Leadership Team.

Hodgson Russ LLP acted as legal advisor to Columbus McKinnon. Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal advisors to Columbus McKinnon. Simpson Thacher & Bartlett LLP are acting as legal advisors to Kito Crosby and KKR.