Columbus McKinnon Corp., manufacturer and marketer of intelligent motion solutions, products, technologies and services for material handling, has agreed to acquire Dorner Mfg. Corp.
“The acquisition of Dorner provides a catalyst for growth in extremely attractive markets and begins the process of reimagining the future of Columbus McKinnon. Dorner advances our strategy to broaden expertise in intelligent motion solutions for material handling, provides access to high-growth secular markets and strengthens our earnings power,” says Columbus McKinnon President and CEO David J. Wilson.
“Their deep technical expertise and experienced management team are an excellent complement to our global organization. In addition, their offerings provide a critical link to industrial automation, complementing our leadership position in material handling. We believe that the acquisition of Dorner is a defining move that advances our Blueprint for Growth 2.0 strategy and enables multiple opportunities for future growth.”
Dorner creates a growth catalyst for Columbus McKinnon and provides diversification into attractive end-markets. A market leader in the nearly $5 billion global specialty conveyor market, Dorner has a proven track record of growth achieving 12% compound annual growth rate over the last five years and outpacing industry growth rates of approximately 6% to 8%.
- Markets served by Dorner have strong secular tailwinds driven by supply chain automation and the acceleration of e-commerce adoption across consumer and industrial markets
- Dorner is a leading supplier to the stable growth life sciences, food processing, and consumer packaged goods markets — and high-growth industrial automation and e-commerce sectors
- Dorner has a significant and growing high margin after-market business for patented, branded components
The acquisition expands Columbus McKinnon’s product offering through a broad range of highly engineered, precision conveying solutions. It also:
- Accelerates the Company’s shift to intelligent motion and serves as a platform to expand capabilities in advanced, higher technology automation solutions
- Leverages complementary adjacencies — including sortation and asynchronous conveyance technologies
- Support Dorner’s geographic expansion
The cash transaction valued at $485 million is expected to close early in the Company’s first quarter of fiscal 2022, subject to typical closing conditions and regulatory requirements. For more information, visit columbusmckinnon.com/investor-news.