Business
Columbus McKinnon to Acquire Dorner Manufacturing; New Platform for Intelligent Motion Provides Catalyst for Growth
Adds leading automation solutions platform with differentiated technology in high-precision conveying systems for attractive growth markets Acquisition
About this update from Columbus Mckinnon Corporation
[{"type":"text","content":"\n\nAdds leading automation solutions platform with differentiated technology in high-precision conveying systems for attractive growth markets\n\n\nAcquisition expands intelligent motion capabilities and aligns with Blueprint for Growth 2.0 strategy\n\n\nDeepens reach into strong secular growth markets including food processing, life sciences, consumer packaged goods, e-commerce and industrial automation\n\n\nEstablishes scalable platform that enables revenue synergies and entry into the fragmented, high-growth specialty conveyor market \n\n\nProven track record of double-digit growth and strong margin profile; expected to be EPS accretive in fiscal 2022 \n\n\nTeleconference to review acquisition scheduled for 5:00 pm ET, March 1, 2021\n\n\n BUFFALO, N.Y.--(BUSINESS WIRE)--\nColumbus McKinnon Corporation (Nasdaq: CMCO)(the “Company”), a leading designer, manufacturer and marketer of intelligent motion solutions, products, technologies and services for material handling, today announced that the Company has executed a definitive agreement to acquire Dorner Manufacturing Corporation (“Dorner”), a leading automation solutions company providing unique, patented technologies in the design, application, manufacturing and integration of high-precision conveying systems, from global private markets firm EQT.\n\nDavid J. Wilson, President and CEO of Columbus McKinnon, commented, “The acquisition of Dorner provides a catalyst for growth in extremely attractive markets and begins the process of reimagining the future of Columbus McKinnon. Dorner advances our strategy to broaden expertise in intelligent motion solutions for material handling, provides access to high-growth secular markets and strengthens our earnings power. Their deep technical expertise and experienced management team are an excellent complement to our global organization. In addition, their offerings provide a critical link to industrial automation, complementing our leadership position in material handling. We believe that the acquisition of Dorner is a defining move that advances our Blueprint for Growth 2.0 strategy and enables multiple opportunities for future growth.”\n\nGrowth Catalyst \n\nDorner creates a growth catalyst for Columbus McKinnon and provides diversification into attractive end-markets. A market leader in the nearly $5 billion global specialty conveyo...