Crosby enters into agreement to acquire Gunnebo Industries
The Crosby Group (“Crosby”), a leading global provider of lifting, rigging, and material handling
hardware, today announced that it has entered into an agreement to acquire Gunnebo Industrier
Holding AB from Segulah, a Nordic private equity firm, and that all closing conditions have been
satisified. Gunnebo Industries is a global leader in innovating, developing, manufacturing and
selling products for material handling and other related applications.
“Given our shared commitment to safe rigging and lifting and our equally committed and talented
teams, this acquisition is a natural fit,” Bob Davies, Chief Executive Officer of Crosby, said.
“Together we complement each other perfectly. Crosby and Gunnebo Industries will be able to
deliver enhanced value for customers and channel partners by providing a broader product portfolio,
enhanced support and training, expanded geographic presence and greater ability to offer innovative
Fredrik Wiking, Chief Executive Officer of Gunnebo Industries, stated, “This is an exciting new chapter
for Gunnebo Industries, its employees, and customers. In combining the talent and resources of both
companies, we will be able to take our customer offering to a whole new level. We look forward to
joining the Crosby team, who share the same values as us – innovation, quality and safety.”
Financial terms of the transaction were not disclosed. Alantra served as financial advisor to
Crosby and Kirkland & Ellis and Vinge served as legal advisors.
Crosby is a leading manufacturer of premium accessories used in lifting, rigging and securement
applications. Based in the United States, the company has the reputation around the world for
providing a broad range of products suitable for the most demanding of operating conditions with
uncompromising quality. Products include wire rope clips, hooks, shackles, lifting clamps, hoist rings,
overhaul balls, snatch blocks, crane blocks and sheaves. Crosby also provides a “world class”
training program, focusing on the proper application of Crosby products.
About Gunnebo Industries
Gunnebo Industries is a global leader in innovating, developing, manufacturing and selling products
for material handling and other related applications. The company supplies products such as blocks,
sheaves, components for chain and wire rope slings, shackles and chain, produced in Sweden,
Norway and the USA. Gunnebo Industries has 9 sales offices covering every continent, as well as
partners and distributors in an additional 50 countries, making its products available no matter
where in the world they are needed. The quality of the products and expertise ensures a safe
and efficient operation, every time during all circumstances.
For further information, please contact:
Sebastian Ehrnrooth, Chairman, Segulah Advisor AB, +46 73 360 42 05
Johan Möllerström, Director, Segulah Advisor AB, +46 72 543 79 11
Fredrik Wiking, CEO, Gunnebo Industries, +46 70 326 08 20
Bill Fisher, VP Legal / HR, Crosby, +1-918-832-5020
The information in this press release is information that Gunnebo Industrier Holding AB (publ)
is required to make public pursuant to the EU Market Abuse Regulation. The information was
provided by the contact persons above on May 20, 2019 at 12 CET.