[INDUSTRY NEWS]
Solutions (“Acco”) from Melrose Industries PLC for approximately $1.0 billion. With roots dating back to 1885, Crosby is a leading global
provider of highly engineered solutions for lifting and rigging applications across the oil and gas, construction, mining and industrial sectors. Headquartered in Tulsa, Oklahoma, Crosby has over 1,300 employees globally and is known for its iconic brands, including Crosby, McKissick, National and Lebus. Acco, headquartered in York, Pennsylvania, has 130 employees
and provides 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. Pete Stavros, a Member of KKR and Head of the Industrials
investing team, stated: “Crosby and Acco have long and distinguished histories of providing distributors and end customers with the highest quality products and customer support to meet their lifting and rigging needs. We are excited to partner with the many dedicated employees of both companies and look forward to working together to begin a new chapter of growth and global expansion.” The transaction is subject to customary regulatory approvals and
was expected to close in the fourth quarter of 2013. Rothschild and Simmons & Company International served as
lead financial and M&A advisors to KKR, and Morgan Stanley, UBS Investment Bank, and RBC Capital Markets also served as M&A advisors. Fully committed financing will be provided by Morgan
Stanley, UBS Investment Bank, and KKR Capital Markets. Kirkland & Ellis LLP served as legal counsel to KKR. y
Swiackey Retires, Tony Bon Appointed CEO of Samson Rope
> Samson Rope announces that after more than 41 years, Steve Swiackey retired as CEO at the end of 2013. Tony Bon, Samson’s current president, has been named CEO. Swiackey came to Samson in 1972 as assistant plant manager of
what was then Samson’s largest manufacturing operation in Shirley, Massachusetts. He quickly rose to plant manager, then to vice president of manufacturing, and in 1985 became president of the company. In 1988 Swiackey bought Samson, relocating the company’s headquarters and its largest manufacturing operation to Ferndale, Washington. In 1993 he sold the business to the present owners, Wind River Holdings™; adding manufacturing facilities in Lafayette, Louisiana, and setting the stage for the strategy that would ultimately transform Samson into the world’s leading high performance synthetic rope company. For the last several years, Swiackey has continued to lead growth
and success in his position as CEO. Throughout his 41 years with the company, Swiackey has exemplified the passion and pride of Samson’s core values. He has also brought this same level of commitment to both the cordage industry and the community, serving as United Way board chairman and president of the Cordage Institute. Through his example and encouragement he has inspired others to the same level of passion. His commitment, vision, and leadership have been instrumental in creating the Samson of today: a strong, self-sustaining company that will continue to improve and grow well into the future. Swiackey will remain an asset to Samson by serving in a consultancy
role to Wind River Holdings™. Bon has been a valued member of the Samson team since 1974
when he began on the manufacturing floor in Samson’s Massachusetts facility. He soon progressed to production superintendent and later transferred to the Ferndale facility in 1980 as plant manager. Since then, he has held positions as materials manager, vice president of operations, senior vice president, chief operating officer, and president since 2007. Robert Strouse, president of Wind River Holdings™, noted, “The
company has prospered under Tony’s day-to-day leadership as president and we look forward to working with him as CEO.” y
14 JANUARY-FEBRUARY 2014 124 x 86mm WIRE ROPE EXCHANGE
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