Crosby to acquire Gunnebo Industries
21 May 2019 by Sotiris KanarisThe Crosby Group (Crosby), a leading global provider of lifting, rigging, and material handling hardware, has entered into an agreement to acquire Gunnebo Industrier Holding from Nordic private equity firm Segulah. The move follows Crosby’s acquisition, earlier this year, of UK load monitoring group Straightpoint.
Crosby said that all closing conditions have been satisfied, but financial terms of the transaction have not been disclosed.
Gunnebo Industries develops, manufactures and sells 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, said: “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.”
