Getzville, New York-based motion technology manufacturer Columbus McKinnon Corporation has entered into a definitive agreement to acquire montratec GmbH, the company announced April 26.

The all-cash transaction is valued at approximately $110 million at closing using current exchange rates plus an earnout in an amount expected not to exceed $14 million based on EBITDA performance, according to a news release.

Based in Niedereschach, Germany, montratec designs and develops automation and transport systems for interlinking industrial production and logistics processes, according to its website. With the acquisition of montratec, Columbus McKinnon aims to accelerate its growth in markets for electric vehicles, life sciences, electronics and semiconductors.

“Montratec is an ideal complement to our precision conveyance platform adding asynchronous technology for material transport solutions that accelerates our growth in very attractive markets with strong secular tailwinds,” Columbus McKinnon President and CEO David Wilson said in a news release. “Montratec’s solutions are at the heart of process automation in manufacturing, enhancing our precision conveying platform. Their technology advances our intelligent motion offering, expands market access and increases our value proposition. We plan to realize significant sales synergies as we leverage their conveying technology through our existing channels in the U.S. and their solid foundation in Europe to expand our global precision conveyance market share.”

The transaction is expected to close by May 31, subject to customary closing conditions, according to the release.

“Our measurable cash generation, flexible balance sheet and strong liquidity enable us to finance this bolt-on acquisition at a reasonable cost in today’s credit environment,” Columbus McKinnon Executive Vice President and CFO Greg Rustowicz said in the release. “Importantly, post-acquisition our leverage ratio is comfortably below 3.0x, and we expect we will demonstrate yet again our ability to quickly de-lever to our targeted leverage ratio.”