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• A specialized Caterpillar for industrial lifting and material handling equipment.
• Parker Hannifin for industrial motion control systems, focused on lifting solutions.

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• Hoists: Devices used for lifting or lowering a load by means of a drum or lift-wheel around which rope or chain wraps.
• Cranes: Machines equipped with a hoist rope, wire ropes or chains, and sheaves, that can be used both to lift and lower materials and to move them horizontally.
• Rigging Attachments: Components like shackles, hooks, and clamps designed to connect and secure loads for lifting and material handling.
• Workstation Cranes: Ergonomic light-capacity crane systems designed for specific work areas to improve productivity and safety.
• Industrial Winches: Mechanical devices used to pull in or let out (wind out) the tension of a rope or wire cable.
• Motion Control Systems: Electronic drives, radio controls, and pendant stations that provide precise and safe operation of material handling equipment.

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Columbus McKinnon (CMCO) primarily sells its industrial material handling products and solutions to other companies (B2B) rather than directly to individuals.

Its major customers are generally companies within various industrial sectors and, significantly, industrial distributors and resellers. While Columbus McKinnon does not publicly disclose a list of its largest individual customers by name in its SEC filings (indicating no single customer accounts for a substantial percentage of its revenue), its sales channels and customer base primarily consist of the following categories of companies:

• Industrial Distributors and Resellers: These companies serve as direct customers for Columbus McKinnon, purchasing their products for resale to a vast network of end-users across numerous industries. These distributors represent a critical direct customer segment for CMCO. Examples of major public industrial distributors that likely carry Columbus McKinnon's types of products include:
  • W.W. Grainger, Inc. (NYSE: GWW)
  • Fastenal Company (NASDAQ: FAST)
  • MSC Industrial Supply Co. (NYSE: MSM)
• Original Equipment Manufacturers (OEMs): Other manufacturing companies that integrate Columbus McKinnon's components (such as hoists, actuators, or drives) into their own machinery, equipment, or systems which they then sell to their end customers. Specific OEM customers are typically not publicly disclosed by CMCO.
• Large Industrial End-Users (Direct Sales): Companies in various heavy industries that purchase complex material handling systems and custom solutions directly from Columbus McKinnon for their own operational needs. These end-users span sectors such as:
  • Automotive Manufacturing
  • Aerospace Industry
  • Energy (e.g., power generation, oil & gas)
  • General Manufacturing & Heavy Industry
  • Infrastructure, Construction, and Mining
  • Entertainment and Theatrical Rigging

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David J. Wilson, President & Chief Executive Officer

David Wilson joined Columbus McKinnon Corporation as President and Chief Executive Officer on June 1, 2020. Prior to this, he served as President of Flowserve Corporation's Pumps Division from 2018 to 2020 and as President of Flowserve's Industrial Products Division starting in 2017. Before Flowserve, Mr. Wilson was President of the Industrial segment of SPX FLOW, Inc. He held various senior leadership positions with SPX Corporation and SPX FLOW between 1998 and 2017, including six years as President of Asia Pacific. He also led several successful corporate development initiatives as Vice President of Business Development for multiple businesses. Mr. Wilson began his career as an engineer at Polaroid Corporation.

Gregory P. Rustowicz, Executive Vice President, Finance, Chief Financial Officer & Treasurer

Gregory P. Rustowicz joined Columbus McKinnon in August 2011 as Vice President Finance and Chief Financial Officer, and was promoted to Executive Vice President – Finance and Chief Financial Officer in July 2022. From 2007, he served as Vice President Finance and Corporate Treasurer at Momentive Performance Materials Inc. Before that, he spent 20 years in various financial management positions for PPG Industries, Inc., including Group CFO for the Glass, Fiber Glass and Chemicals Businesses, CFO for Transitions Optical, Inc., and Assistant Treasurer and Global Credit Director. Mr. Rustowicz started his career as a CPA with KPMG.

Appal Chintapalli, President, EMEA & APAC

Appal Chintapalli joined Columbus McKinnon in 2019. He brought extensive experience in technology and industrial settings, with a proven track record in general management, acquisition integration, restructuring, turnarounds, sales, marketing, new business development, and strategic planning.

Alan S. Korman, Sr. Vice President Corporate Development, General Counsel & Secretary

Alan S. Korman joined Columbus McKinnon in January 2011 as General Counsel and Assistant Secretary. In July 2011, he was elected Vice President, General Counsel, and Corporate Secretary, and in 2015, he assumed the role of Corporate Development.

Mario Y. Ramos, Senior Vice President, Global Product Development

Mario Y. Ramos joined Columbus McKinnon as Vice President Global Product Development in June 2018. Previously, he was Vice President Strategic Marketing, Product Management, and Partnerships for Schneider Electric's Final Distribution line of business. Prior to that, he served as Vice President Global Engineering, directing a team of over 500 R&D professionals across 16 locations in North America.

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The key risks for the public company Columbus McKinnon (CMCO) include adverse changes in global economic conditions, intense competition and the need for technological innovation, and its level of debt and leverage.

1. Adverse Changes in Global Economic Conditions
   Columbus McKinnon's business is significantly affected by global economic conditions, which are largely outside its control. Economic downturns can lead to a general decrease in product demand from customers, negatively impacting the company's industry, business, and operational results. Factors such as persistent inflation and geopolitical supply chain disruptions also contribute to this risk.
2. Highly Competitive Industry and Technological Advancements
   The material handling industry, in which Columbus McKinnon operates, is fragmented and highly competitive. Competition is primarily based on factors such as customer service, product availability, performance, functionality, brand reputation, reliability, and price. Some competitors possess greater financial and other resources. A critical technological challenge for Columbus McKinnon is to translate its strategic focus on "Intelligent Motion Solutions" into market-leading products faster than its rivals, especially as the industry progresses towards full autonomy. Failure to do so could pose a near-term risk.
3. Debt and Leverage
   Columbus McKinnon has been identified with a high level of leverage. Its interest cover, at 2.3 times, is considered super-low, and its net debt to EBITDA ratio stands at 3.7. High interest expenses have reportedly impacted the business, and a significant 33% decline in earnings before interest and taxes (EBIT) over the last 12 months could make the repayment of its debt load more challenging.

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The rapid advancement and adoption of fully autonomous robotic material handling systems and Artificial Intelligence (AI) driven logistics solutions pose an emerging threat to Columbus McKinnon.

Companies specializing in Autonomous Mobile Robots (AMRs), collaborative robots (cobots) capable of complex lifting and manipulation, and comprehensive AI-powered factory/warehouse optimization platforms are providing alternative, highly flexible, and often more integrated material handling solutions. These systems can reduce the reliance on traditional fixed-path cranes, hoists, and manual material handling equipment by offering solutions that are scalable, adaptable to changing layouts, and can operate with minimal human intervention. While Columbus McKinnon is investing in automation and smart products, new entrants focused solely on advanced robotics and AI could disrupt the market by offering fundamentally different, integrated material handling ecosystems that displace conventional equipment in certain industrial and logistics applications.

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Columbus McKinnon (CMCO) operates within the global material handling, hoisting and lifting equipment, and intelligent motion control solutions markets.

Addressable Market Sizes:

• Material Handling Equipment: The global material handling equipment market was valued at approximately USD 178.2 billion in 2024, with projections for growth to USD 390.88 billion by 2032, exhibiting a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period. Another estimate places the global market at USD 227.5 billion in 2024, anticipated to increase to USD 392.1 billion by 2035, growing at a CAGR of 5.07% from 2025 to 2035. The Asia Pacific region is a dominant market, with China accounting for over 41% of the Asia Pacific material handling equipment market in 2024.
• Hoisting and Lifting Equipment (Cranes and Hoists): The global crane and hoist market was valued at approximately USD 32.85 billion in 2024 and is projected to grow to USD 41.56 billion by 2030, at a CAGR of 3.7%. Other estimates indicate a market size of USD 33.1 billion in 2023, predicted to reach USD 46.7 billion by 2030 with a CAGR of 5%. Columbus McKinnon is recognized as the number one U.S. hoist provider and the second-largest global hoist company. The Asia Pacific region is expected to hold the largest share of the crane and hoist market.
• Intelligent Motion Control Solutions: The global intelligent motion control solution market is estimated at USD 15 billion in 2025 and is projected to reach approximately USD 25 billion by 2033, exhibiting a CAGR of 7% from 2025 to 2033. The broader motion control market was valued at USD 20.3 billion in 2023 and is estimated to register a CAGR of over 5.5% between 2024 and 2032. Asia Pacific dominated the global motion control market with over 45% share in 2023 and is also the fastest-growing region.

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Columbus McKinnon (CMCO) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Strategic Acquisitions and Synergy Realization: The company's acquisition of Montrotec has already contributed to sales growth, particularly in precision conveyance, and is expected to continue to do so. Furthermore, the pending acquisition of Kito Crosby is anticipated to be transformational, scaling the business and accelerating Columbus McKinnon's Intelligent Motion strategy. This acquisition is projected to deliver approximately $70 million in net cost synergies by the end of year three, which, while primarily impacting margins, can indirectly support revenue growth by freeing up capital for reinvestment and enhancing competitiveness.
2. Growth in High-Potential Vertical Markets: Columbus McKinnon is actively investing to become a leader in targeted vertical markets, especially in electrification and battery production, a market expected to reach $550 billion by 2030. Significant orders, such as a $9 million order from Volkswagen-backed PowerCo for asynchronous conveyance solutions, demonstrate their strong position and growth potential in this area. The company is also focusing on the life sciences vertical, where it has seen considerable success.
3. Expansion of Precision Conveyance and Intelligent Motion Solutions: The precision conveyance platform has shown strong order growth, with a 23% increase in Q3 Fiscal Year 2024 and a 25% increase in orders in Q4 Fiscal Year 2024. This continued strength in precision conveyance and the broader Intelligent Motion strategy are central to the company's growth plans.
4. Pricing Strategies and Operational Efficiencies: Columbus McKinnon has demonstrated its ability to implement price improvements, which have contributed to gross profit expansion and offset manufacturing cost changes. Coupled with ongoing operational improvements and the application of the Columbus McKinnon Business System (CMBS), these efficiencies are expected to enhance profitability and support top-line growth. The company also expects to achieve tariff cost neutrality by the end of fiscal 2026 through price increases, surcharges, and supply chain adjustments, mitigating potential headwinds and supporting revenue.
5. Recovery in Short-Cycle Demand and Strong Backlog Conversion: The company has observed a recovery in short-cycle demand, particularly in the U.S. market, which has contributed to sales growth. Additionally, Columbus McKinnon has a healthy and growing backlog of orders, which they are focused on converting into sustained revenue growth.

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Share Repurchases

• Columbus McKinnon had a share repurchase authorization for up to $20 million, approved on March 26, 2019, with no expiration. As of March 31, 2025, approximately $9 million of this authorization remained available.
• In fiscal year 2025 (ending March 31, 2025), the company made $10 million in purchases of treasury stock.

Share Issuance

• In May 2021, Columbus McKinnon issued 4,312,500 shares of common stock at $48.00 per share, resulting in approximately $198.7 million after issuance costs.
• Proceeds from the issuance of common stock were $1.6 million in fiscal year 2024 (ending March 31, 2024) and $0.371 million in fiscal year 2025.

Outbound Investments

• On February 10, 2025, Columbus McKinnon announced a definitive agreement to acquire Kito Crosby Limited from funds managed by KKR for $2.7 billion in an all-cash transaction, expected to close by the end of fiscal year 2026. This acquisition is intended to scale CMCO's business and accelerate its Intelligent Motion strategy.
• In fiscal 2024, Columbus McKinnon acquired montratec GmbH, which expanded its precision conveyance platform with asynchronous intelligent automation and monorail transport systems.
• In fiscal 2022, the company expanded into the precision conveyance sector with its acquisitions of Dorner Mfg. Corp. and Garvey Corporation.

Capital Expenditures

• Capital expenditures were approximately $24.8 million for fiscal year 2024 and $21.4 million for fiscal year 2025 (ending March 31, 2025).
• Expected capital expenditures for fiscal year 2026 are estimated to be in the range of $20 million to $25 million.
• Capital expenditures in fiscal 2025 included approximately $8 million related to a "footprint simplification initiative."