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Columbus McKinnon completes Stahl deal

Columbus McKinnon Corp. has wrapped up its $$240 million acquisition of German hoist manufacturer Stahl CraneSystems.

The acquisition, which will make Columbus McKinnon the world's second-biggest hoist maker, is expected to add about 34 cents per share to the Amherst-based material handling equipment maker's earnings during the fiscal year that begins in April, and 51 cents per share during the year that begins in April 2018, the company said Tuesday.

Columbus McKinnon said it expects to reap about $5 million in cost savings during the upcoming fiscal year, and another $6 million in the year after that.

To help pay for the acquisition, the company also completed a private placement stock sale at $22 per share that raised $47 million, which Columbus McKinnon will use to pay down some of the debt it took on to make the purchase.

 

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