cmco-20211130

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 30, 2021

COLUMBUS MCKINNON CORPORATION

(Exact name of registrant as specified in its charter)

New York

(State or other jurisdiction of incorporation)


001-34362						16-0547600
(Commission File Number)						(IRS Employer Identification No.)


205 Crosspoint Parkway	Buffalo	NY	14068
(Address of principal executive offices)			(Zip Code)

Registrant's telephone number including area code: (716) 689-5400

_________________________________________________

(Former name or former address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value per share	CMCO	Nasdaq Global Select Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


☐			Emerging Growth Company


If an Emerging Growth Company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.03			Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On November 30, 2021, Columbus McKinnon Corporation (the “Company”) exercised an option pursuant to an accordion feature under its existing Amended and Restated Credit Agreement, dated as of May 14, 2021, with JPMorgan Chase Bank, N.A. (JPMorgan Chase Bank) as Administrative Agent and JPMorgan Chase Bank, PNC Capital Markets LLC, and Wells Fargo Securities LLC as joint lead arrangers and joint bookrunners (the “Credit Agreement”) to increase the principal amount of the Term Loan B facility by $75,000,000, which amount was then drawn in order to finance the previously announced acquisition of Garvey Corporation and pay associated deal expenses. The exercise of this accordion feature increased the outstanding principal amount of the Term Loan B facility from $443,875,000 to $518,875,000 as of November 30, 2021. No material amendment to the terms of the Term Loan B facility or the Credit Agreement was necessary for the Company to exercise this accordion feature. The material terms of the Credit Agreement have been previously disclosed in the Company’s Current Report on Form 8-K that was filed with the Securities and Exchange Commission on May 17, 2021.


Item 8.01			Other events.

On December 1, 2021, the Company issued a press release announcing that the acquisition of Garvey Corporation had closed. A copy of the press release is included as Exhibit 99.1 in this Current Report on Form 8-K and is incorporated herein by reference.


Item 9.01			Financial Statements and Exhibits.

(d) Exhibits.


EXHIBIT NUMBER						DESCRIPTION

99.1						Press Release, dated December 1, 2021
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


COLUMBUS McKINNON CORPORATION

By:			/s/ Alan S. Korman
Name:			Alan S. Korman
Title:			Senior Vice President Corporate Development,
			General Counsel and Secretary

Dated: December 1, 2021


			EXHIBIT 99.1
News Release

205 Crosspoint Parkway

Buffalo, NY 14068

Immediate Release

Columbus McKinnon Closes Acquisition of Garvey Corporation

BUFFALO, NY, December 1, 2021 - Columbus McKinnon Corporation (Nasdaq: CMCO) (the “Company”), a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, today announced that the Company has completed its acquisition of Garvey Corporation (“Garvey”). The Company previously announced that it had entered into a definitive agreement to acquire Garvey on November 4, 2021.

David J. Wilson, President and CEO of Columbus McKinnon, commented, “We have been making great progress with our Blueprint for Growth 2.0 strategy and this acquisition further demonstrates our ability to execute on our plan to transform Columbus McKinnon into a high value, intelligent motion enterprise. We are excited to bring the Garvey team and their leading technologies into the Columbus McKinnon family to create among the most complete lines of precision conveying and accumulation technologies in the industry.”

Garvey is a leading accumulation systems solutions company providing unique, patented systems for the automation of production processes. Founded in 1926 in Hammonton, New Jersey, Garvey has approximately 100 employees including a highly technical sales and engineering organization that has a proven track record of innovation within the accumulation market.

About Columbus McKinnon

Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.columbusmckinnon.com.

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future sales and earnings, which involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including the ability of the Company to complete the acquisition of Garvey, the integration of Garvey into the Company to achieve cost and revenue synergies, the ability of the Company and Garvey to achieve revenue expectations, the ability of the Company to execute its financing plans in connection with the Garvey acquisition, global economic and business conditions

including the impact of COVID-19, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the ability to expand into new markets and geographic regions, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.

Contacts:


Gregory P. Rustowicz			Investor Relations:
Senior Vice President - Finance and Chief Financial Officer			Deborah K. Pawlowski
Columbus McKinnon Corporation			Kei Advisors LLC
716-689-5442			716-843-3908
[email protected]			[email protected]