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Columbus McKinnon Closes Acquisition of montratec® GmbH

Business Wire
·3-min read

Enhances leading precision conveying platform with asynchronous intelligent automation and transport systems

BUFFALO, N.Y., May 31, 2023--(BUSINESS WIRE)--Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer and manufacturer of intelligent motion solutions for material handling, today announced that it has closed the previously announced acquisition of montratec® GmbH, a leading automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes. The Company has acquired montratec in an all-cash transaction for approximately $110 million at current exchange rates. The acquisition includes an earnout in an amount expected not to exceed $14 million based on future EBITDA performance of montratec.

"We are excited to have the montratec team join Columbus McKinnon. Their asynchronous intelligent automation and monorail transport systems further strengthen our precision conveyance and automation offerings while also opening the door for greater scale in Europe. This acquisition advances our strategy to expand our presence in attractive markets with strong secular tailwinds, such as life sciences, semiconductor and electronics. We expect their growth and margin profile to enhance our efforts to drive stronger earnings power and advance the transformation of Columbus McKinnon as a leading intelligent motion solutions provider for material handling," noted David J. Wilson, President and CEO of Columbus McKinnon.

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montratec is a leading automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes. montratec provides its modular, intelligent monorail transport systems for the electric vehicle (EV), semiconductor, electronics, life sciences, aerospace and other industries.

About Columbus McKinnon

Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning, and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.columbusmckinnon.com.

Safe Harbor Statement

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning the strategic benefits to the Company of the proposed acquisition of montratec; anticipated future operating performance and results of the Company and the amount of the earnout payable in the transaction. These statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including the risk that there may be unexpected costs, charges or expenses resulting from the proposed acquisition; risks related to the integration of montratec into the Company and ability to achieve strategic benefits and synergies; risks regarding the ability of the Company and montratec to achieve revenue expectations; the impact of supply chain challenges and inflation; the ability of the Company to scale the organization, achieve its financial targets including revenue and adjusted EBITDA margin, and to execute CMBS and the Core Growth Framework; global economic and business conditions affecting the industries served by the Company and its subsidiaries including COVID-19; the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services; the ability to expand into new markets and geographic regions; and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. Consequently, such forward-looking statements should be regarded as current plans, estimates and beliefs. Except as required by applicable law, the Company assumes no obligation to update the forward-looking information contained in this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230530005724/en/

Contacts

Gregory P. Rustowicz
Executive Vice President - Finance and Chief Financial Officer
Columbus McKinnon Corporation
716-689-5442
greg.rustowicz@cmworks.com

Investor Relations:
Deborah K. Pawlowski
Kei Advisors LLC
716-843-3908
dpawlowski@keiadvisors.com