Columbus McKinnon Corporation has finalized the acquisition of automation solutions company, montratec GmbH. According to a recent press release, the addition will “enhance leading precision conveying platforms with asynchronous intelligent automation and transport systems.”
“We are excited to have the montratec team join Columbus McKinnon,” David J. Wilson, president and CEO of Columbus McKinnon, said. “Their asynchronous intelligent automation and monorail transport systems further strengthen our precision conveyance and automation offerings while also opening the door for greater scale in Europe.”
The all-cash transaction, valued at $110 million by current exchange rates, includes an earn-out with a limit of $14 million, based on montratec’s future EBITDA performance.
“This acquisition advances our strategy to expand our presence in attractive markets with strong secular tailwinds, such as life sciences, semiconductor and electronics. We expect their growth and margin profile to enhance our efforts to drive stronger earnings power and advance the transformation of Columbus McKinnon as a leading intelligent motion solutions provider for material handling,” Wilson said.
Montratec specializes in automation solutions intended to assist the process of “intelligent automation and transport systems for interlinking industrial production and logistics processes.
“Montratec provides its modular, intelligent monorail transport systems for the electric vehicle (EV), semiconductor, electronics, life sciences, aerospace and other industries,” the press release stated.
A global designer, manufacturer and marketer, Columbus McKinnon, based in New York, designs and develops intelligent automation and transport systems for interlinking industrial production and logistics systems.
The slate of products Columbus McKinnon helps move, lift, position and secure through its motion solutions includes hoists, crane components, precision conveyor systems, rigging tools, light rail workstations and digital power and motion control systems.
“The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how,” a recent press release stated.