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 dominic.chopping@wsj.com

 

(END) Dow Jones Newswires

March 02, 2021 02:29 ET (07:29 GMT)

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