EQT Sells Conveyor-Systems Maker Dorner to Columbus McKinnon in $485 Million Deal
By Dominic Chopping
STOCKHOLM--Swedish private-equity firm EQT AB said late on
Monday that it has agreed to sell Dorner Holding Corp. to Columbus
McKinnon Corp. in a deal worth $485 million.
The EQT Mid Market U.S. fund bought conveyor-systems
manufacturer Dorner in 2017 from Incline Equity Partners.
"With the support of EQT, Dorner continued to grow organically
to solidify its position as a leading global industrial technology
business," EQT said.
"Substantial investments were made to integrate previous
acquisitions [...] Research and development was also prioritized,
resulting in industry-leading new product developments in
additional end markets, such as life sciences and e-commerce, with
many more products in the pipeline," the company added.
The transaction is subject to customary conditions and approvals
and is expected to close in the second quarter of 2021.
Write to Dominic Chopping at firstname.lastname@example.org
(END) Dow Jones Newswires
March 02, 2021 02:29 ET (07:29 GMT)
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