Columbus McKinnon to Acquire Kito Crosby for $2.7 Billion; Fiscal Q3 Non-GAAP EPS, Revenue Decline

MT Newswires Live

Feb 11, 2025

Columbus McKinnon (CMCO) late Monday disclosed plans to acquire privately held Kito Crosby from funds managed by KKR (KKR) through a transaction valued at around $2.7 billion.

The industrial equipment company also reported fiscal Q3 non-GAAP net income of $0.56 per diluted share, down from $0.74 a year earlier.

Two analysts polled by FactSet expected $0.72.

Revenue for the quarter ended Dec. 31 was $234.1 million, compared with $254.1 million a year earlier.

Two analysts expected $251.8 million.

For fiscal 2025, the company said adjusted EPS should decrease in the low teens percentage year over year, while net sales should decrease in the mid-single percentage digits from the prior year.

Analysts are looking for $2.91 and $1.01 billion, respectively.

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