To our Valued Customers and Partners,
We are excited to announce that KITO and Crosby have entered into a definitive agreement to combine the businesses, creating a complete lifting solutions provider with a shared commitment to safety, reliability, and innovation.
The combination is expected to close in the second half of the year, subject to customary closing conditions including regulatory clearance from relevant authorities. During this period, KITO and Crosby will operate as separate, independent companies. Upon close, we look forward to sharing more details and, as always, plan to work closely with customers and end-users on value creation opportunities.
This transaction will pair the highly complementary product portfolios of KITO and Crosby, enabling access to a broad portfolio from one trusted manufacturer. We are thrilled to combine with Crosby to provide best-in-class products, solutions, and services for customers worldwide. As stated above, the two organizations share an unwavering commitment to quality, exceptional service, safety, and innovation.
We believe this shared commitment will bring significant additional value to our combined distribution customers, end-users, teams, and communities. We will be better resourced, and ultimately better positioned to serve our partners through additional investment in products, and people. Together, the companies will be able to accelerate innovation through increased investment in new product development and enable end-users to achieve higher levels of efficiency and safety through enhanced technical, application, and training support from a combined business.
As mentioned, until closing, KITO and Crosby will continue to be separate, independent businesses and so it is very much business as usual. There is no change to your KITO points of contact, pricing, or programs.
Thank you for your continued support and partnership and we look forward to embarking on this next exciting chapter together.
CEO, KITO Corporation
COO, KITO Corporation
MD, KITO PWB