The Crosby Group (“Crosby”), a leading global provider of lifting, rigging, and material handling hardware, has entered into an agreement to acquire Gunnebo Industrier Holding AB from Segulah, a Nordic private equity firm, and that all closing conditions have been satisfied.

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Gunnebo Industries supplies products such as blocks, sheaves, components for chain and wire rope slings, shackles and chain, produced in Sweden, Norway and the USA. 

“Given our shared commitment to safe rigging and lifting and our equally committed and talented teams, this acquisition is a natural fit,” said Bob Davies, chief executive officer, Crosby. “Together we complement each other perfectly. Crosby and Gunnebo Industries will be able to deliver enhanced value for customers and channel partners by providing a broader product portfolio, enhanced support and training, expanded geographic presence and greater ability to offer innovative solutions.”

“This is an exciting new chapter for Gunnebo Industries, its employees, and customers,” said Fredrik Wiking, chief executive offiver, Gunnebo Industries. “In combining the talent and resources of both companies, we will be able to take our customer offering to a whole new level. We look forward to joining the Crosby team, who share the same values as us – innovation, quality and safety.”

Financial terms of the transaction were not disclosed.