Columbus McKinnon to acquire montratec for ~$110M; Q4 revenue prelim ~$253M

COLUMBUS MCKINNON CORP

Purchase price €101.25M (~$110M) plus earn-out up to ~$14M based on EBITDA; expected close by May 31, 2023.
montratec had ~$29M revenue and 24% adjusted EBITDA margins in CY2022; expected >30% revenue growth in 2023.
Q4 FY2023 prelim revenue ~$253M (above guidance $240-250M), GAAP op income $27-28M, adj EBITDA $39-40M.
Expect acquisition accretive ~12 months post-close; pro forma net leverage ratio (covenant basis) 2.7x.
Financing via revolver expansion to $175M and $50M accounts receivable securitization.

item 1.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.75

COLUMBUS MCKINNON CORP reported preliminary financial results for fiscal 2023 fourth quarter.

Period: fiscal 2023 fourth quarter
Result: preliminary results

Exact text from the filing

The full text of the Transaction Press Release and the related presentation slides containing these certain estimated preliminary financial results is attached hereto as Exhibits 99.1 and 99.2

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

COLUMBUS MCKINNON CORP entered into Purchase Agreement with montratec Holding S.à r.l. valued at €101.25 million (effective 2023-04-25).

Action: entry
Agreement: asset purchase
Counterparty: montratec Holding S.à r.l.
Value: €101.25 million
Effective: 2023-04-25

Exact text from the filing

On April 25, 2023, Columbus McKinnon EMEA GmbH (“Columbus McKinnon EMEA”), a subsidiary of Columbus McKinnon Corporation (the “Company”), entered into a share purchase agreement (the “Purchase Agreement”) by and between Columbus McKinnon EMEA GmbH and montratec Holding S.à r.l. (the “Seller”), pursuant to which Columbus McKinnon EMEA will acquire all of the issued and outstanding capital stock of montratec GmbH (“montratec”), an automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes, for a purchase price of €101.25 million

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Source: SEC EDGAR

accession 0001005229-23-000065

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