The Crosby Group (“Crosby”), a leading global provider of lifting, rigging, and material handling hardware, today announced that it has entered into an agreement to acquire Gunnebo Industrier Holding AB from Segulah, a Nordic private equity firm, and that all closing conditions have been satisfied. Gunnebo Industries is a global leader in innovating, developing, manufacturing and selling products for material handling and other related applications.
“Given our shared commitment to safe rigging and lifting and our equally committed and talented teams, this acquisition is a natural fit,” Bob Davies, Chief Executive Officer of Crosby, said. “Together we complement each other perfectly. Crosby and Gunnebo Industries will be able to deliver enhanced value for customers and channel partners by providing a broader product portfolio, enhanced support and training, expanded geographic presence and greater ability to offer innovative solutions.”
Fredrik Wiking, Chief Executive Officer of Gunnebo Industries, stated, “This is an exciting new chapter for Gunnebo Industries, its employees, and customers. In combining the talent and resources of both companies, we will be able to take our customer offering to a whole new level. We look forward to joining the Crosby team, who share the same values as us – innovation, quality and safety.”
Financial terms of the transaction were not disclosed. Alantra served as financial advisor to Crosby and Kirkland & Ellis and Vinge served as legal advisors.