DALLAS – The Crosby Group, a global provider of lifting, rigging, and material handling hardware, 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 satisfied.
Gunnebo Industries is a global developer and manufacturer of 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,” said Bob Davies, CEO of Crosby.
“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, CEO of Gunnebo Industries, stated, “This is an exciting new chapter for Gunnebo Industries, its employees, and customers. 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.
This acquisition follows the Crosby group’s purchase of Straightpoint UK (SP), a manufacturer of load cells and force measurement equipment in January 2019.The manufacturing facility and headquarters, co-located in Hampshire, UK, are being transformed into Crosby’s centre of excellence for load monitoring and measurement, in addition to retaining key personnel based in the U.S.
Crosby manufactures accessories used in lifting, rigging and securement applications. Products include wire ropeclips, 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.
Gunnebo Industries 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 nine sales offices covering every continent, as well as partners and distributors in an additional 50 countries.