Dallas, Texas-based The Crosby Group, the largest lifting, rigging, and material handling hardware company in the world, has completed the acquisition of Straightpoint UK (SP), a leading manufacturer of load cells and force measurement equipment. The value of the transaction is not disclosed.
The acquisition, effective 2 January 2019, includes the manufacturing facility and headquarters, co-located in Hampshire, UK that will become Crosby’s center of excellence for load monitoring and measurement, in addition to key personnel based in the US.
David Ayling, formerly CEO at SP, will step into a new role overseeing sales, marketing, and product development functions for all load monitoring equipment. He will report to Robert Desel, Chief Commercial Officer at Crosby.
Ayling said: "SP has built a very strong team focused on innovation and high service levels and we wanted to ensure we could maintain and capitalize on these important features of the company. Crosby’s brand, its channel strength, global reach, and management team will enable us to build on our strengths and take the business to a new level. Becoming part of Crosby represents an opportunity to deliver our solutions to more customers and increase the pace of our innovation. It is an exciting new chapter for SP, its team members, and customers."
Desel said: "We’ve had a close relationship with SP for quite a while—its load shackles are based on the industry standard Crosby G2130 shackle, and we use SP products on our Safe Rigging trucks. SP’s position as a leader and innovator in load measurement and monitoring, and the opportunity to integrate its technology into our already strong portfolio, made this a compelling addition to Crosby. Safe lifting is in Crosby’s DNA and load monitoring is a critical part of that equation. Monitored lifts are inherently safer and we can now increase adoption of this best practice on a global scale."
He continued: "The acquisition is focused on growth. SP already represented a force in the marketplace and as part of Crosby we can position its products and expertise closer to the point of use and increase the pace of innovation." Ayling confirmed that SP would maintain its commitment to non-rigging markets, such as the weighing sector.
Desel concluded: "We are very excited to add the SP brand, best-in-class products, manufacturing capabilities, and team members to the Crosby organisation."