Columbus McKinnon Buys Dorner for $485M
March 26, 202
Private Equity has agreed to sell Dorner to Columbus McKinnon for an Enterprise
Value of USD 485m.
Founded in 1966 and headquartered in Hartland, WI, Dorner is a leading global
provider of high precision conveyor solutions for high growth and resilient end
markets including e-commerce, life sciences, food & beverage, industrial
automation, packaging, and CPG. Dorner supports the quickly evolving automation
industry, which is backed by the accelerating adoption of automated solutions.
Dornerís robust product portfolio extends across modular standard and highly
engineered solutions along with aftermarket parts and services. Dornerís
proprietary DTools software provides access to its comprehensive solution
library and allows customers to design and specify their own customized
conveyors. The Company serves a global blue chip customer base with
manufacturing facilities in North America, Latin America, Europe, and Asia and
has approximately 400 employees worldwide.
With the support of EQT, Dorner continued to grow organically to solidify its
position as a leading global industrial technology business. Substantial
investments were made to integrate previous acquisitions to create a truly
global platform with the ability to provide customers consistent quality and a
uniform portfolio of products worldwide. EQT partnered with Dornerís management
team to realign the Companyís go-to-market approach to best serve its extensive
customer base. Research and development was also prioritized, resulting in
industry leading new product developments in additional end markets, such as
life sciences and e-commerce, with many more products in the pipeline.
Knokgaard, Partner and Investment Advisor at EQT, said: ďDorner operates at the
forefront of the automation revolution and is supporting industries undergoing
rapid growth and transformation, such as e-commerce and life sciences. The
Company exemplifies EQTís thematic approach to investments within the Industrial
Technology sector and is a market leader in the highly attractive automation
subsector. We are very thankful to the Dorner management team, led by Terry
Schadeberg, for its strategic vision and strong execution, and look forward to
following Dornerís journey with Columbus McKinnon.Ē
Terry Schadeberg, CEO of Dorner, said: ďWith the support of EQT, Dorner has
strengthened our internal infrastructure, expanded our solutions set and gained
share in high growth end markets that will continue to benefit from Dornerís
unique capabilities in the coming years. We thank EQT for its guidance and
counsel through the last four years. Columbus McKinnon is an excellent strategic
fit for Dorner and we are thrilled to partner with them in this next phase of
The transaction is subject to customary conditions and approvals and is expected
to close in Q2 2021.
Baird and William Blair & Company L.L.C. acted as financial advisors and Weil,
Gotshal & Manges LLP acted as legal advisor to EQT Private Equity and Dorner.