CM sells Gaffey to Ace

By Alex Dahm02 August 2012

Ace Industries in the USA acquired the Gaffey Cranes division of Columbus McKinnon Corporation on 1 August for an undisclosed sum.

Industrial factory crane manufacturer and distributor Gaffey serves South Central and Midwestern United States from its base in Cleveland, Texas. The Gaffey division contributed less than US$ 20 million revenue to Columbus McKinnon in the fiscal year that ended 31 March 2012, CM said.

"Gaffey has been a solid division of our company for many years but, given the nature of its business as a crane manufacturer and service provider, Ace Industries is a more logical owner of Gaffey. Ace Industries is a well-respected channel partner which is focused on crane production, service and rigging," said Timothy Tevens, Columbus McKinnon president and CEO.

Ace Industries supplies hoist and crane parts, service, and engineering services. "We believe both Ace and Gaffey will benefit from this acquisition as we are able to leverage Ace's leading edge service processes to enhance the market presence that Gaffey maintains. Additionally, Gaffey's coverage in Texas and the surrounding areas will open new markets for Ace's distribution and rigging departments," according to Ace.

USA-based Columbus McKinnon designs, manufactures and markets material handling products, systems and services worldwide. Products include hoists, actuators, cranes and lifting and rigging tools.

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