US based hook block and rigging equipment manufacturer Crosby is to acquire Swedish chain set, hook and rigging equipment manufacturer Gunnebo, from Nordic private equity firm Segulah. Financial terms of the transaction have not been disclosed.
Crosby chief executive Bob Davies said: “Given our shared commitment to safe rigging and lifting and our equally committed and talented teams, this acquisition is a natural fit. 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.”
Gunnebo chief executive Fredrik Wiking added: “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.”