Columbus McKinnon Completes Acquisition of STAHL CraneSystems

Columbus McKinnon said pre-market Tuesday that it completed its acquisition of STAHL CraneSystems.Columbus McKinnon acquired all of the issued and outstanding capital stock of the STAHL CraneSystems business for an all-cash purchase price of EUR224 million ($240 million) net of cash and debt acquired from Konecranes Plc.

Columbus McKinnon expects the cost synergies before purchase accounting and charges to contribute $0.34 per share of earnings accretion during fiscal 2018 and $0.51 per share during fiscal 2019. Fiscal 2018 cost synergies are expected to be $5 million increasing to a total of $11 million during fiscal 2019. The company says it anticipates one-time transaction related costs in fiscal 2017 between $8.0 million and $9.0 million.

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