KKR To Fork Over $1B For Crosby Group, Acco Material

Law360, Los Angeles (October 9, 2013, 9:40 PM EDT) -- Private equity group KKR & Co. LP announced Wednesday that it has finalized an agreement to buy lift-equipment maker Crosby Group LLC and Acco Material Handling Solutions from Melrose Industries PLC for approximately $1 billion.

The deal was expected to be announced this week, following recent reports that the sale would provide an exit for U.K. engineering firm Melrose. The Britain-based investment company had previously announced that it was exploring a sale for the Oklahoma-based Crosby, a lift unit that services the energy, construction and mining...
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