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Columbus McKinnon acquires Yale Lifting Solutions

CK had previously owned 20% of South African company.

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Columbus McKinnon Corporation announced that it acquired 100% of the shares of privately-held Yale Lifting Solutions (Pty) LTD located in Magaliesburg, South Africa.

With less than $10 million in annual sales, Yale Lifting Solutions has been representing Columbus McKinnon's Yale brand of products to the South African mining industry for over 14 years. Columbus McKinnon had previously owned 20% of Yale Lifting Solutions. Terms of the acquisition were not disclosed.

"This acquisition furthers our strategy to penetrate specific industries where we believe we can continue to win additional market share," said Timothy T. Tevens, president and chief executive officer. "Yale Lifting Solutions provides an immediate expansion of our sales and service efforts to the mining industry in a resource rich country that continues to expand, and we expect that extensive customer education can provide us a competitive advantage. Our approach acknowledges that various geographic markets will require unique approaches to increase our presence. Strategically, we continue to focus on expanding our market share around the world as we aspire to be the world's leader in equipment that lifts, positions and moves material easily and safely."

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