Kito Crosby Market Research Report

Background

Overview

Kito Crosby is a global leader in the innovation, manufacturing, and distribution of products and services designed to enhance the safety and efficiency of lifting, rigging, transporting, and securing operations. Formed in 2023 through the merger of Kito Corporation and The Crosby Group, the company boasts a legacy exceeding 260 years, offering a comprehensive range of standard and custom-engineered solutions across various industries, including construction, cargo control, energy, and entertainment.

Mission and Vision

Kito Crosby's mission is to provide high-quality lifting and securement solutions that set industry standards for safety and efficiency. Their vision is to continuously innovate and deliver products that ensure safer, stronger, and more productive operations worldwide.

Industry Significance

With a diverse portfolio of renowned brands such as Kito, Crosby, Harrington, Gunnebo Industries, and Peerless, Kito Crosby holds a significant position in the lifting and securement industry. The company's extensive global presence and commitment to quality have established it as a trusted partner for various industries requiring reliable material handling solutions.

Key Strategic Focus

Core Objectives

• Innovation: Continuously develop and introduce advanced lifting and securement technologies.

• Safety: Prioritize safety in all product designs and operational processes.

• Global Expansion: Strengthen market presence across diverse geographies.

Areas of Specialization

• Lifting Solutions: Electric, manual, and lever hoists.

• Rigging Hardware: Shackles, hooks, wire rope clips, and lifting clamps.

• Material Handling Equipment: Cranes, trolleys, and related accessories.

Key Technologies Utilized

• Modular Aluminum Crane Systems: Flexible and ergonomic solutions for various lifting applications.

• Continuous Plating Systems: Advanced coating technologies to enhance product durability.

Primary Markets Targeted

• Construction: Providing equipment for complex building projects.

• Energy: Supplying solutions for power generation and distribution.

• Entertainment: Offering rigging solutions for events and productions.

Financials and Funding

Funding History

Kito Crosby was formed in 2023 through the merger of Kito Corporation and The Crosby Group, both of which have histories of significant investments and growth. In 2024, Kito Crosby generated $1.1 billion in revenue through its extensive global channel partner network.

Recent Funding Rounds

In February 2025, Columbus McKinnon Corporation announced a definitive agreement to acquire Kito Crosby in an all-cash transaction valued at $2.7 billion, subject to customary post-closing adjustments. The acquisition is expected to close in the first quarter of 2026, pending regulatory approvals.

Notable Investors

Prior to the acquisition agreement, Kito Crosby was owned by funds managed by KKR, a leading global investment firm. Under KKR's ownership since 2013, Kito Crosby more than doubled its revenue and quadrupled its number of employees.

Intended Utilization of Capital

The proceeds from the acquisition are expected to be used for debt reduction and deleveraging, aligning with Columbus McKinnon's primary capital allocation priority.

Pipeline Development

Key Pipeline Candidates

Kito Crosby's product development pipeline includes:

• Harrington Hazardous Location Hoists: Designed for use in environments with fire or explosion hazards due to flammable gases or combustible dust.

• eepos Modular Aluminum Crane Systems: Flexible and ergonomic lifting solutions for various industrial applications.

Stages of Development

Both product lines are in the advanced stages of development, with market introductions planned in the near future.

Target Conditions

• Harrington Hoists: Hazardous locations requiring explosion-proof equipment.

• eepos Cranes: Industrial environments needing ergonomic and flexible lifting solutions.

Anticipated Milestones

• Harrington Hoists: Expected to be available through authorized distributors in the coming months.

• eepos Cranes: Integration into Harrington's sales channels in the Americas is underway, with availability anticipated soon.

Technological Platform and Innovation

Proprietary Technologies

• Continuous Plating System: An advanced coating technology enhancing the durability and corrosion resistance of chain products.

Significant Scientific Methods

• Automated Monitoring Systems: Integrated into manufacturing processes to ensure product quality and consistency.

Leadership Team

Executive Profiles

• Robert Desel: Chief Executive Officer. With extensive experience in the lifting and securement industry, he has been instrumental in Kito Crosby's growth and strategic direction.

• Brock Hancock: Chief Financial Officer. Oversees financial operations and strategic financial planning.

• Yoshio Kito: President, Japan & Asia Pacific. Leads operations in the Asia-Pacific region, leveraging deep industry knowledge.

• Corey Franklin: Chief Strategy Officer. Responsible for guiding the company's strategic initiatives and growth opportunities.

• Jon Backes: President, Americas Lifting Hardware. Manages the Americas division, focusing on lifting hardware products.

• Carlo Lonardi: President, Americas Hoist & Cranes. Oversees hoist and crane operations in the Americas region.

• Wim Fabricius: President, Europe, Middle East & Africa. Leads operations across EMEA, driving regional growth.

• Melissa Ruths: Chief Marketing Officer. Guides marketing strategies and brand development.

• Bill Fisher: Chief HR, Legal & Compliance Officer. Ensures compliance and manages human resources functions.

• Johnson K. Lai: Chief Information Officer. Oversees information technology and digital transformation initiatives.

• Jim Zupancic: Vice President, Operational Excellence. Focuses on optimizing operational processes and efficiency.

• Marc Premont: Chief Product Officer. Leads product development and innovation strategies.

Leadership Changes

No recent significant changes or appointments within the company's leadership have been reported.

Competitor Profile

Market Insights and Dynamics

The global lifting and securement industry is characterized by steady growth, driven by infrastructure development, industrial expansion, and increasing safety regulations. Key trends include automation, ergonomic design, and the integration of advanced materials to enhance product performance.

Competitor Analysis

• Columbus McKinnon Corporation: A leading designer and manufacturer of intelligent motion solutions for material handling, recently announced plans to acquire Kito Crosby, aiming to create a combined entity with enhanced scale and product scope.

• Terex Corporation: Offers a range of lifting and material handling solutions, competing in similar markets with a focus on crane and aerial work platform products.

• Konecranes: Specializes in lifting equipment and services, providing cranes and hoists for various industrial applications.

Strategic Collaborations and Partnerships

• The Ocean Cleanup: Kito Crosby has partnered with The Ocean Cleanup to supply training, lifting equipment, and rigging hardware products, contributing to global efforts in removing plastic waste from oceans and rivers.