M&A Deal Summary

KKR Acquires Crosby Group

On October 9, 2013, private equity firm KKR acquired machinery company Crosby Group from Melrose Industries

Acquisition Highlights
  • This is KKR’s 4th transaction in the Machinery sector.
  • This is KKR’s 60th transaction in the United States.
  • This is KKR’s 2nd transaction in Oklahoma.

M&A Deal Summary

Date 2013-10-09
Target Crosby Group
Sector Machinery
Buyer(s) KKR
Sellers(s) Melrose Industries
Deal Type Divestiture
Advisor(s) Morgan Stanley
RBC Capital Markets (Financial)

Target

Crosby Group

Tulsa, Oklahoma, United States
Crosby Group is a global provider of highly engineered solutions for lifting and rigging applications across the oil and gas, construction, mining, and industrial sectors. Crosby Group was founded in 1885 and is headquartered in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 135 of 484
Sector (Machinery) 4 of 7
Type (Divestiture) 20 of 53
State (Oklahoma) 2 of 2
Country (United States) 60 of 210
Year (2013) 17 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-09 Weststar Aviation Services

Kuala Lumpur, Malaysia

Weststar Aviation Services is a providers of offshore helicopter transportation services to oil and gas companies in the South East Asia region. Weststar Aviation Services was formed in 2003 and is based in Kuala Lumpur, Malaysia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-15 SBB

Beograd, Serbia

SBB is a cable TV and broadband internet operator in Europe, and Mid-Europa and is committed to the continued development of cable TV and internet business. SBB was founded in 2002 and is based in Beograd, Serbia.

Buy -

Seller(S) 1

SELLER

Melrose Industries

London, United Kingdom

Category Company
Founded 2003
Sector Machinery
Employees13,492
Revenue 3.0B GBP (2022)
DESCRIPTION

Melrose is a buyer good manufacturing businesses with strong fundamentals whose performance can be improved. Melrose finances its acquisitions using a low level of leverage, improves the businesses by a mixture of investment and changed management focus, sells them and returns the proceeds to shareholders. Melrose Industries was founded in 2003 and is based in London, the United Kingdom.


DEAL STATS #
Overall 7 of 12
Sector (Machinery) 5 of 5
Type (Divestiture) 7 of 12
State (Oklahoma) 1 of 2
Country (United States) 5 of 8
Year (2013) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-09 ACCO MHS

York, Pennsylvania, United States

ACCO MHS is a provider of custom-built specialty material handling equipment, including a full line of hoists, industrial cranes, monorails, carts, and trailers that are sold under the well-recognized Louden, Wright, and Nutting brands. ACCO MHS is headquartered in York, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-30 Eclipse

Rockford, Illinois, United States

Eclipse, Inc. is a manufacturer of gas combustion components and systems for industrial heating and drying applications headquartered in Rockford, Illinois.

Buy $158M