About the Transaction
For more than 35 years, CM Shredder has been the recognized leader of recycling equipment solutions. CM Tire Shredders systems process more than half a billion tires each year worldwide, and CM Industrial Shredders leverage the cutting edge, patented technology created by CM Shredder to create the most durable and effective shredders with a consistent focus on offering its customers the lowest total cost of ownership.
Schutte Hammermill products are known worldwide for their rugged construction, economical price, day-in-day-out dependability and a line of the highest quality, on demand factory replacement wear parts. Founded in 1928, Schutte Hammermill products are made in the USA, proudly manufactured in Buffalo, New York (USA).
“With the acquisition of the Columbus McKinnon shredder business and the combination with our Schutte Hammermill product lines, now under the Bengal Machine banner, our company has moved into an ideal position to become the size-reduction equipment supplier for nearly every market need – regardless of the products or materials our customers are working with,” said Martin Berardi, CEO of Bengal Machine. “The purchase represents a strategic opportunity to add significantly to our worldwide installation base and grow our capacity and scale.”
Paramax Corporation, which led the deal negotiations for Columbus McKinnon Corporation, is a FINRA-registered investment banking firm focused on advising companies and shareholders in sell-side M&A transactions. Paramax focuses on advising companies and shareholders in sell-side transactions to strategic buyers at after-tax optimized prices. Paramax is headquartered in Williamsville, NY with an International reach through its partnership in Globalscope Partners, a group of international corporate finance and business advisors operating globally to support M&A transactions.