AMHERST, N.Y.—Columbus McKinnon Corp. has acquired Pfaff Beteiligungs GmbH (Pfaff-silberblau), a European supplier of lifting, material handling and actuator products.
The German-based firm had revenue of approximately $90 million in 2007. Columbus McKinnon acquired Pfaff-silberblau from the EQT Opportunity Fund for $53 million. The all-cash transaction is expected to be accretive to Columbus McKinnon's earnings.
"Pfaff-silberblau is a leading European hoist and material handling equipment brand that complements our existing business in the region,” says Timothy T. Tevens, president and CEO of Columbus McKinnon. “Additionally, its actuator business provides us with technical engineering expertise, access to the growing European market and diversifies our existing North American business."