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19 05 20
Crosby has acquired Gunnebo Industries

Crosby has acquired Gunnebo Industries

The Crosby Group (“Crosby”), a leading global provider of lifting, rigging, and material handling hardware, announced that it has acquired Gunnebo Industrier Holding AB from Segulah, a Nordic private equity firm, and that all closing conditions have been satisfied. 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 solutions.

”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 andVinge served as legal advisors.

About Crosby
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, overhaulballs, snatch blocks, crane blocks and sheaves. Crosby also provides a “world class” training program, focusing on the proper applicationof 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 ofthe 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.

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© Gunnebo Industries AB 2019