Columbus McKinnon ups revolver to $175 million for acquisition

By William Gullotti

Buffalo, N.Y., May 18 – Columbus McKinnon Corp. amended and expanded its existing revolving credit facility with JPMorgan Chase Bank, NA as administrative agent on Thursday, according to an 8-K filed with the Securities and Exchange Commission.

The amendment increased the facility’s maximum borrowing capacity to $175 million from $100 million to help fund the company’s pending acquisition of montratec GmbH.

As previously reported, montratec is being bought for €101.25 million, subject to certain customary adjustments, with an anticipated closing date of May 31.

JPMorgan is also a joint lead arranger and joint bookrunner with PNC Capital Markets LLC and Wells Fargo Securities, LLC.

Columbus McKinnon is a Buffalo, N.Y.-based designer, manufacturer and marketer of intelligent motion solutions for material handling. montratec is a Germany-based automation solutions company that designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes.

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