August 20, 2014

FaegreBD Represents Kito Corporation in Purchasing Peerless Industrial Group

Faegre Baker Daniels represented Japanese company Kito Corporation in purchasing Winona, Minnesota-based Peerless Industrial Group, a manufacturer of chains, fittings, overhead lifting products and traction products. The approximately $115 million deal (enterprise value) closed August 20.

Kito, a public company listed on the Tokyo Stock Exchange, owns subsidiaries and manufacturing sites around the world, including sites in Canada, the Philippines, Europe and China. Kito is a worldwide leader in the design and manufacturing of hoists, cranes and other components for overhead lifting and other material handling products. Historically, Kito's U.S. operations have been conducted through its subsidiary, Harrington Hoists, which has locations in Pennsylvania and California. Peerless is the largest manufacturer and distributor of industrial and consumer chain and traction products in North America.

FaegreBD corporate partners Bruce Engler and Matt Kuhn supported Takashi Suzuki of LM Law Offices, Japanese counsel to Kito, and Paul Johnston, Kito's primary U.S. attorney.

More information in Kito's press release.

See coverage in Yahoo! Finance, Star Tribune, and Winona Daily News and the Minneapolis/St. Paul Business Journal.

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