Corp. announced a definitive agreement to acquire Kito Crosby Ltd. (KCL), a manufacturer of lifting, rigging, and material-handling equipment. The transaction, valued at $2.7 billion, is expected to significantly increase the scale and scope of Columbus McKinnon's operations through the full integration of KCL.

It's set to form a leading material handling and motion control supplier with annual revenues of about $2.1 billion.

Columbus McKinnon Corp. has agreed to buy machinery maker Kito Crosby from KKR & Co. in a transaction valued at $2.7 billion.

Business combination materially improves scale and product scope, advancing Columbus McKinnon's strategy as the holistic provider of intelligent motion solutions in materials handling Complementary portfolio enhances strategic positioning in attractive verticals and target geographies,

Columbus McKinnon agreed to buy Kito Crosby Ltd. from KKR for $2.7B in cash, to advance its strategy as the holistic provider of intelligent motion solutions in materials handling.