Simpson Thacher represented the underwriters, led by J.P. Morgan Securities LLC, in connection with the registered public offering by Columbus McKinnon Corporation (“Columbus McKinnon”) of an aggregate of 4,312,500 shares of its common stock, inclusive of shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares, for $207 million in aggregate gross proceeds (the “Notes Offering”). Simpson Thacher also represented JPMorgan Chase Bank, N.A., PNC Capital Markets LLC and Wells Fargo Securities, LLC (the “Lead Arrangers”) in connection with $550 million in senior credit facilities (the “First Lien Facilities”) for Columbus McKinnon.
Columbus McKinnon intends to use the net proceeds from the Notes Offering to repay in part certain outstanding borrowings. Columbus McKinnon used the net proceeds from the First Lien Facilities to, among other things, finance the purchase price for the acquisition of Dorner Mfg. Corp. and certain of its subsidiaries and affiliate and refinance Columbus McKinnon’s borrowings under its prior term loan and revolving credit facilities.
Columbus McKinnon (NASDAQ: CMCO) is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that efficiently and ergonomically move, lift, position and secure materials.
The Simpson Thacher team for this transaction included David Azarkh, Evan Zuckerman and Benjamin Pittenger (Capital Markets); Patrick Ryan, Leah Nudelman and Chris Zheng (Credit); Pasco Struhs (Executive Compensation and Employee Benefits); Adeeb Fadil and Timothy Mulvihill (Environmental); Genevieve Dorment (Intellectual Property); Abram Ellis and Christine Tillema (Regulatory); Nancy Mehlman and Eli Shalam (Tax); and Jennie Getsin (FINRA & Blue Sky).