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Mon June 14 2021

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Lifting gear firms for sale

3 Jun 13 Melrose Industries is looking to sell two of the three lifting gear companies that it acquired as part of its takeover of FKI in 2008.

A Crosby hook
A Crosby hook

The two businesses up for sale are Crosby, a global supplier of lifting fittings and blocks to construction and other industries, and Acco, a long-established US manufacturer of hoists and overhead crane components.

Melrose said that it was its usual operating procedure to buy companies, turn them round and sell them on for a profit.  JP Morgan Cazenove has been appointed to advise on the sale process.

Wire rope manufacturer Bridon, the third company in Melrose's lifting division and also acquired as part of FKI, was not mentioned as being up for sale in today's disclosure from Melrose.

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