Columbus McKinnon Completes Acquisition of Unified Industries, Inc.
Columbus McKinnon Corp.
140 John James Audubon Pkwy
Amherst, NY, 14228
Press release date: February 28, 2014
Expands Product Portfolio to Provide Additional Bundled Solutions Opportunities
AMHERST, N.Y. – Columbus McKinnon Corporation (Nasdaq:CMCO), a leading designer, manufacturer and marketer of material handling products, announced today that it has acquired privately-owned Unified Industries, Inc. ("Unified"). Unified designs, manufacturers and markets overhead light rail workstations primarily used in automotive and other industrial applications.
Timothy T. Tevens, President and Chief Executive Officer, commented, "Unified's workstation cranes and light rail lifting systems are a natural extension of our hoist product portfolio. The combination elevates our ability to deepen relationships with our OEMs through a broader scope of bundled solutions. We expect to increase sales of Unified's products by leveraging our extensive sales organization and value-added distribution channels globally. This represents a good utilization of our cash as we continue to pursue acquisitions to further our mission to be the global leader in providing products and application knowledge to help customers lift, position and secure materials easily."
With its headquarters in Howell, MI, Unified had sales of $12.4 million in 2013. The acquisition is expected to be accretive to Columbus McKinnon's earnings in fiscal year 2015.
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of material handling products, systems and services, which efficiently and ergonomically move, lift, position and secure materials. Key products include hoists, cranes, actuators and rigging tools. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available on its website at http://www.cmworks.com.
CONTACT: Gregory P. Rustowicz
Vice President - Finance and Chief Financial Officer
Columbus McKinnon Corporation
Deborah K. Pawlowski
Kei Advisors LLC
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