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Posted July 28, 2015

Columbus McKinnon to acquire Magnetek

Columbus McKinnon has agreed to acquire Magnetek Inc., a designer and manufacturer of digital power and motion control solutions for material handling, elevators and mining applications.


CM will pay $50 per share for a total value of $188.9 million. The agreement has been approved unanimously by the boards of directors of both companies.

Magnetek's customers include most of the industrial crane and hoist companies in North America, including Columbus McKinnon, and elevator builders and mining equipment manufacturers.

"The accretive combination of Magnetek's technology and "smart power" with our broad line of lifting and positioning mechanical products creates a total solution for our customers," said Timothy T. Tevens, president and CEO of Columbus McKinnon.

Headquartered in Menomonee Falls, Wis., Magnetek has approximately 340 employees. Trailing 12 month sales as of the end of its first quarter of fiscal 2015 were $112.2 million, of which approximately 10% was international. Nearly 75% of revenue was related to material handling. 

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