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1 Jan 2017

Konecranes sells STAHL CraneSystems to Columbus McKinnon Corp. with support from MCF

MCF advised Konecranes on this landmark deal, where Konecranes was asked by the European Commission to divest STAHL CraneSystems as part of a remedy package related to Konecranes’ acquisition of MHPS from Terex Corp. The deal was completed under an extremely tight time schedule dictated by the conditional antitrust approval for Konecranes’ acquisition of MHPS. The enterprise value was approx. EUR 300 million.

“We are very pleased to announce this transaction. It is an important milestone in making progress toward closing the MHPS acquisition. We are satisfied that we could achieve this strategic milestone in a timely manner, thereby minimising the period of uncertainty for the STAHL CraneSystems business and personnel.”

Panu Routila

President and Chief Executive of Konecranes

The Deal

The disposal of STAHL CraneSystems was carried out in the context of the conditional approval from the European Commission for Konecranes’ planned acquisition of MHPS from Terex Corporation. The stipulated remedies included the disposal of STAHL CraneSystems, which Konecranes successfully sold to Columbus McKinnon Corporation for an enterprise value of approx. EUR 300 million in the stipulated timeframe.

The Target

STAHL CraneSystems, headquartered in Künzelsau (Germany), is a global supplier of hoisting technology and crane components. The company, which employs some 650 people globally, is well-known for its capability to build engineered system and explosion proof solutions. Its customers include distributors and crane builders, as well as EPC companies. In 2016, STAHL CraneSystems’ third party sales outside the Konecranes Group were approx. EUR 135 million with pro forma EBITDA on a stand-alone basis of around EUR 30 million.

Client Statement

Panu Routila, President and Chief Executive of Konecranes, commented on the transaction: “We are very pleased to announce this transaction. It is an important milestone in making progress toward closing the MHPS acquisition. We are satisfied that we could achieve this strategic milestone in a timely manner, thereby minimising the period of uncertainty for the STAHL CraneSystems business and personnel.”