M&A - COLUMBUS MCKINNON CORP

Form Type: DEF 14A

Filing Date: 2025-06-30

Corporate Action: Acquisition

Type: New

Accession Number: 000100522925000171

Filing Summary: Columbus McKinnon Corporation reported significant growth and strategic initiatives during fiscal 2025, emphasizing a strong order performance and a focus on enhancing customer experience. The company announced its pending acquisition of Kito Crosby, aimed at expanding geographic reach and combining capabilities in the lifting market, which is expected to enhance customer value and improve financial performance. The board of directors outlined their commitment to corporate governance and long-term strategy while addressing the need for flexibility in a changing economic landscape. The annual meeting of shareholders is scheduled for August 15, 2025, where several key proposals will be voted on, including the election of directors and various amendments regarding stock issuance and management compensation.

Form Type: 8-K

Filing Date: 2025-06-17

Corporate Action: Acquisition

Type: New

Accession Number: 000114036125022831

Filing Summary: On June 17, 2025, Columbus McKinnon Corporation filed a Form 8-K to disclose details regarding its proposed acquisition of Kito Crosby Limited. The company had previously announced this acquisition on February 10, 2025. The filing includes important documents such as the audited consolidated financial statements of Kito Crosby for the years ended December 31, 2024, and December 31, 2023, along with the report from Deloitte & Touche LLP. Additionally, it contains interim unaudited financial statements as of March 31, 2025. The report also presents unaudited pro forma condensed combined financial information, reflecting the impact of the acquisition on the company's financials for the twelve months ended March 31, 2025. This information serves to inform stakeholders about the financial standing and potential future outcomes of the merger.

Form Type: PRE 14A

Filing Date: 2025-06-17

Corporate Action: Acquisition

Type: New

Accession Number: 000100522925000164

Filing Summary: Columbus McKinnon Corporation announced its pending acquisition of Kito Crosby, which is expected to enhance the company's geographic reach and significantly improve its business scale. This strategic move is part of Columbus McKinnon's ongoing efforts to strengthen its position in the market, specifically in lifting securement, enhancing customer value propositions, and expanding margins. The company emphasized its record orders and focus on improving customer experience and operational efficiency as it adapts to evolving market conditions. Stakeholders were encouraged to participate in the virtual Annual Meeting scheduled for 2025, where important items such as board elections, compensation votes, and amendments regarding the issuance of shares will be on the agenda. Shareholders are urged to vote to ensure their voices are represented.

Form Type: 8-K

Filing Date: 2025-05-30

Corporate Action: Acquisition

Type: Update

Accession Number: 000100522925000156

Filing Summary: Columbus McKinnon Corporation, on February 10, 2025, entered into a Stock Purchase Agreement to acquire all issued and outstanding equity of Kito Crosby Limited. On May 28, 2025, both Columbus McKinnon and KKR North America Fund XI L.P. received a request for additional information from the Antitrust Division regarding the Acquisition under the Hart-Scott-Rodino Antitrust Improvements Act. This request extends the waiting period until the parties comply with it. The Acquisition is still subject to regulatory approval and other customary conditions.

Form Type: 8-K

Filing Date: 2025-02-12

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525024548

Filing Summary: On February 10, 2025, Columbus McKinnon Corporation entered into a Stock Purchase Agreement with Kito Crosby Limited to acquire all issued and outstanding equity of Kito for approximately $2.7 billion in cash, pending satisfaction of specific conditions and regulatory approvals. The agreement outlines conditions such as absence of legal impediments, accuracy of representations, and operational cooperation between the parties. The acquisition is set to close no later than August 10, 2026, unless extended by mutual consent or other stipulated conditions. Additionally, an Investment Agreement was signed, allowing CD&R Investors to purchase Series A Cumulative Convertible Preferred Shares to help finance the acquisition, including details on conversion rights, dividends, and governance rights. The company also plans on entering a Registration Rights Agreement and received a Debt Commitment Letter from JPMorgan Chase Bank to secure financing for the acquisition.