US based hook and lifting tackle manufacturer Crosby has acquired marine mooring components manufacturer Feubo, (Schmiedestück Betrieb Feuerstein) from the Feuerstein family.
Based in Germany Feubo manufactures shackles, connectors and mooring chains for the offshore oil, gas and wind power market.
The company’s production facility, located in Hattingen, between Dusseldorf and Dortmund will become Crosby’s centre of excellence for mooring components, as well as a key engineering and innovation centre. Financial terms of the transaction have not been disclosed.
Schmiedestück Betrieb Feuerstein was founded by Klaus Feuerstein in 1989 to manufacturer mooring hardware. In 1994 the company began specialising on producing hardware for the offshore mooring industry and heavy lifting. It also adopted the trading name Feubo.
Chief executive Oliver Feuerstein will continue to manage the Feubo operation.
Crosby chief executive Robert Desel said: “We are thrilled to expand our offshore product portfolio and end market reach with this acquisition. Feubo’s position as a leader and innovator in mooring components, and the opportunity to leverage its world class engineering and innovation competency, made this a compelling addition to Crosby.”
Feuerstein added: “This is an exciting new chapter for Feubo, its employees, and customers. With Crosby’s global presence we can increase our reach and increase the pace of innovation. We look forward to joining the Crosby team, who share the same values as us—safety, reliability and innovation.”