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KKR & Co LP To Acquire The Crosby Group And Acco Material Handling Solutions From Melrose Industries PLC

Wednesday, 9 Oct 2013 06:29pm EDT 

KKR & Co LP announced the signing of a definitive agreement to acquire The Crosby Group (Crosby) and Acco Material Handling Solutions (Acco) from Melrose Industries PLC for approximately $1.0 billion. With roots dating back to 1885, Crosby is a global provider of engineered solutions for lifting and rigging applications across the oil and gas, construction, mining and industrial sectors. Acco, headquartered in York, Pennsylvania, has 130 employees and provides custom-built specialty material handling equipment, including a full line of hoists, industrial cranes, monorails, carts and trailers that are sold under the well-recognized Louden, Wright and Nutting brands. The transaction is expected to close in the fourth quarter of 2013. Rothschild and Simmons & Company International served as lead financial and M&A advisors to KKR, and Morgan Stanley, UBS Investment Bank, and RBC Capital Markets also served as M&A advisors. Fully committed financing will be provided by Morgan Stanley, UBS Investment Bank, and KKR Capital Markets. Kirkland & Ellis LLP served as legal counsel to KKR. 

Company Quote

-0.07 -0.30%
26 Feb 2015