Columbus McKinnon Corporation, a designer, manufacturer and marketer of material handling products, announced the acquisition of privately-owned Stahlhammer Bommern (STB), a manufacturer of a large range of lifting tools and forged parts that are able to withstand particularly heavy, static and dynamic loads, including single and ramshorn lifting hooks.
Columbus McKinnon has acquired the equity of STB for USD 24.6M in cash and assumed approximately USD 6.6M of net debt. The purchase agreement includes a potential USD 3.7M earn-out, subject to achieving a certain profit target through calendar year 2015.
Timothy T. Tevens, president and CEO, commented, “STB’s brand is built on a long history of designing and manufacturing quality, reliable heavy load lifting tools. We plan to further extend STB’s product reach through our established global sales and distribution network.”
Founded in 1911 and headquartered in Hamm, Germany, STB has tool-making, forging and machining capabilities. The leading European manufacturer of heavy-load single and ramshorn hooks, STB provides rigging tool offerings as well as engineering components to a diversified customer base, primarily serving Europe and Asia. STB manufactures its products at its 82,000ft2 facility in Hamm, and is expected to have calendar year 2014 revenue of approximately USD 17.8M with an operating margin of 16%.