Abell-Howe Company of the USA has sold its crane division to Columbus McKinnon Corporation for $7m cash.
Abell-Howe Crane, based in Forest Park, Illinois, is a regional manufacturer of jib and other overhead cranes and employs about 50 people. Last year it generated sales of $9.5m.
“This acquisition marks our entry into another complementary product line, further enhancing CM’s capabilities as a major provider of material handling products and solutions,” said Columbus McKinnon president and chief executive officer Timothy Tevens.
“As a nationally recognised designer and builder of jib cranes, Abell-Howe Crane creates a significant cross-selling opportunity with all hoist products – CM’s largest selling product line – as well as our Solutions segment which focuses on engineered-to-order material handling systems,” Tevens added.
The deal was announced on 25 August. Under the new ownership, Abell-Howe Crane retains its name and will continue to operate as an independent company, building, designing and servicing cranes. The main change is that CM will now sell Abell-Howe Crane products.
Columbus McKinnon is a broad-based designer, manufacturer and supplier of materials handling equipment, selling chain and wire rope hoists, high-strength steel chain, forged accessories, conveyor systems, lift tables and related equipment.
