Columbus Mckinnon Corporation
A designer and manufacturer of intelligent motion and lifting equipment for material handling. Its hoists, cranes, chains, and conveyors move heavy loads through factories, energy sites, and transportation hubs, sold under brands like Kito, Crosby, and STAHL to industrial distributors and crane builders. The company's roots reach back to 1875, when a Chicago predecessor made sliding doors for railroad freight cars before turning to hoists, and its name comes from a late-1920s merger of Ohio's Columbus Chain Company with hoist maker Chisholm-Moore. Its classic hoists carry starry names like the Comet and the Lodestar.
On February 10, 2025, the Issuer entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Kito Crosby Limited, a company incorporated under the laws of England and Wales ("Kito Crosby"), to acquire all of the issued and outstanding equity of Kito Crosby on the terms set forth in the Stock Purchase Agreement (the "Kito Crosby Acquisition"). On February 10, 2025, in connection with the execution of the Stock Purchase Agreement, the Issuer entered into an Investment Agreement (the "Investment Agreement") with CD&R Holdings and Clayton, Dubilier & Rice Fund XII, L.P. (together with its affiliates the "CD&R Investors"), with Clayton, Dubilier & Rice Fund XII, L.P. participating solely for the purpose of limited provisions therein, providing for the purchase by CD&R Holdings of the Preferred Shares in order to partially finance the Kito Crosby Acquisition. As of the date of this filing, pursuant to the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer") and the Certificate of Amendment, the Issuer's board of directors (the "Board") has appointed CD&R Holdings' designees, Michael Lamach, an operating advisor engaged by the funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"), Nathan K. Sleeper, the Chief Executive Officer of CD&R, and Andrew Campelli, a partner of CD&R, as directors of the Issuer. In their capacity as directors of the Issuer, Messrs. Lamach, Sleeper and Campelli, or any successor CD&R designees, may take an active role in working with the Issuer's management on operational, financial and strategic initiatives. Other than as described above or in Item 6, each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although each Reporting Person expects to evaluate on an ongoing basis the Issuer's financial condition and prospects and its interest in, and intentions with respect to, a variety of transactions that could create shareholder value, including business combinations, acquisitions and refinancing opportunities. Accordingly, each Reporting Person reserves the right to change its plans and intentions at any time, as it deems appropriate based on any such evaluation. In particular, each Reporting Person may, subject to the limitations set forth in the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer"), at any time and from time to time, in privately negotiated transactions or otherwise, acquire additional or all securities of the Issuer; dispose of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire; and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities. In addition, the Reporting Persons may, subject to the limitations set forth in the Investment Agreement, engage in discussions with management, the Board, other stockholders of the Issuer and other relevant parties concerning the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons may also request the Issuer or any of its representatives, directly or indirectly, to amend or waive, or provide the prior written approval of the Board to take any action covered by, one or more of the standstill restrictions in the Investment Agreement prior to forming any plan or intention regarding the Issuer or its securities. Pursuant to the Investment Agreement, CD&R Holdings is entitled to designate nominees to the Board, which will afford access to, and participation in, deliberations of the Board regarding the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may also take steps to explore and prepare for various plans and actions before forming an intention to engage in such plans or actions. As a result of these activities, and subject to the limitations set forth in the Investment Agreement, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein, including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or acquiring another company or business; changing operating or marketing strategies; adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer's capitalization; reviewing dividend and compensation policies; entering into agreements with third parties relating to acquisitions of securities issued or to be issued by the Issuer; or entering into agreements with the management of the Issuer relating to acquisitions of shares by members of management, issuance of equity awards to management, or their employment by the Issuer. Except as described in Item 6 of this Schedule 13D which is incorporated herein by reference, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions required to be reported herein.
On February 10, 2025, the Issuer entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Kito Crosby Limited, a company incorporated under the laws of England and Wales ("Kito Crosby"), to acquire all of the issued and outstanding equity of Kito Crosby on the terms set forth in the Stock Purchase Agreement (the "Kito Crosby Acquisition"). On February 10, 2025, in connection with the execution of the Stock Purchase Agreement, the Issuer entered into an Investment Agreement (the "Investment Agreement") with CD&R Holdings and Clayton, Dubilier & Rice Fund XII, L.P. (together with its affiliates the "CD&R Investors"), with Clayton, Dubilier & Rice Fund XII, L.P. participating solely for the purpose of limited provisions therein, providing for the purchase by CD&R Holdings of the Preferred Shares in order to partially finance the Kito Crosby Acquisition. As of the date of this filing, pursuant to the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer") and the Certificate of Amendment, the Issuer's board of directors (the "Board") has appointed CD&R Holdings' designees, Michael Lamach, an operating advisor engaged by the funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"), Nathan K. Sleeper, the Chief Executive Officer of CD&R, and Andrew Campelli, a partner of CD&R, as directors of the Issuer. In their capacity as directors of the Issuer, Messrs. Lamach, Sleeper and Campelli, or any successor CD&R designees, may take an active role in working with the Issuer's management on operational, financial and strategic initiatives. Other than as described above or in Item 6, each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although each Reporting Person expects to evaluate on an ongoing basis the Issuer's financial condition and prospects and its interest in, and intentions with respect to, a variety of transactions that could create shareholder value, including business combinations, acquisitions and refinancing opportunities. Accordingly, each Reporting Person reserves the right to change its plans and intentions at any time, as it deems appropriate based on any such evaluation. In particular, each Reporting Person may, subject to the limitations set forth in the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer"), at any time and from time to time, in privately negotiated transactions or otherwise, acquire additional or all securities of the Issuer; dispose of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire; and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities. In addition, the Reporting Persons may, subject to the limitations set forth in the Investment Agreement, engage in discussions with management, the Board, other stockholders of the Issuer and other relevant parties concerning the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons may also request the Issuer or any of its representatives, directly or indirectly, to amend or waive, or provide the prior written approval of the Board to take any action covered by, one or more of the standstill restrictions in the Investment Agreement prior to forming any plan or intention regarding the Issuer or its securities. Pursuant to the Investment Agreement, CD&R Holdings is entitled to designate nominees to the Board, which will afford access to, and participation in, deliberations of the Board regarding the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may also take steps to explore and prepare for various plans and actions before forming an intention to engage in such plans or actions. As a result of these activities, and subject to the limitations set forth in the Investment Agreement, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein, including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or acquiring another company or business; changing operating or marketing strategies; adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer's capitalization; reviewing dividend and compensation policies; entering into agreements with third parties relating to acquisitions of securities issued or to be issued by the Issuer; or entering into agreements with the management of the Issuer relating to acquisitions of shares by members of management, issuance of equity awards to management, or their employment by the Issuer. Except as described in Item 6 of this Schedule 13D which is incorporated herein by reference, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions required to be reported herein.
On February 10, 2025, the Issuer entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Kito Crosby Limited, a company incorporated under the laws of England and Wales ("Kito Crosby"), to acquire all of the issued and outstanding equity of Kito Crosby on the terms set forth in the Stock Purchase Agreement (the "Kito Crosby Acquisition"). On February 10, 2025, in connection with the execution of the Stock Purchase Agreement, the Issuer entered into an Investment Agreement (the "Investment Agreement") with CD&R Holdings and Clayton, Dubilier & Rice Fund XII, L.P. (together with its affiliates the "CD&R Investors"), with Clayton, Dubilier & Rice Fund XII, L.P. participating solely for the purpose of limited provisions therein, providing for the purchase by CD&R Holdings of the Preferred Shares in order to partially finance the Kito Crosby Acquisition. As of the date of this filing, pursuant to the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer") and the Certificate of Amendment, the Issuer's board of directors (the "Board") has appointed CD&R Holdings' designees, Michael Lamach, an operating advisor engaged by the funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"), Nathan K. Sleeper, the Chief Executive Officer of CD&R, and Andrew Campelli, a partner of CD&R, as directors of the Issuer. In their capacity as directors of the Issuer, Messrs. Lamach, Sleeper and Campelli, or any successor CD&R designees, may take an active role in working with the Issuer's management on operational, financial and strategic initiatives. Other than as described above or in Item 6, each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although each Reporting Person expects to evaluate on an ongoing basis the Issuer's financial condition and prospects and its interest in, and intentions with respect to, a variety of transactions that could create shareholder value, including business combinations, acquisitions and refinancing opportunities. Accordingly, each Reporting Person reserves the right to change its plans and intentions at any time, as it deems appropriate based on any such evaluation. In particular, each Reporting Person may, subject to the limitations set forth in the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer"), at any time and from time to time, in privately negotiated transactions or otherwise, acquire additional or all securities of the Issuer; dispose of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire; and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities. In addition, the Reporting Persons may, subject to the limitations set forth in the Investment Agreement, engage in discussions with management, the Board, other stockholders of the Issuer and other relevant parties concerning the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons may also request the Issuer or any of its representatives, directly or indirectly, to amend or waive, or provide the prior written approval of the Board to take any action covered by, one or more of the standstill restrictions in the Investment Agreement prior to forming any plan or intention regarding the Issuer or its securities. Pursuant to the Investment Agreement, CD&R Holdings is entitled to designate nominees to the Board, which will afford access to, and participation in, deliberations of the Board regarding the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may also take steps to explore and prepare for various plans and actions before forming an intention to engage in such plans or actions. As a result of these activities, and subject to the limitations set forth in the Investment Agreement, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein, including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or acquiring another company or business; changing operating or marketing strategies; adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer's capitalization; reviewing dividend and compensation policies; entering into agreements with third parties relating to acquisitions of securities issued or to be issued by the Issuer; or entering into agreements with the management of the Issuer relating to acquisitions of shares by members of management, issuance of equity awards to management, or their employment by the Issuer. Except as described in Item 6 of this Schedule 13D which is incorporated herein by reference, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions required to be reported herein.
| Holder | Schedule | % of class | Shares | Filed |
|---|---|---|---|---|
| Global X Management CO LLC | 13GPassive | 6.15% | 1.77M | May 15, 2026 |
| Invesco Ltd. | 13G/APassive | 0.3% | 84.6K | May 6, 2026 |
| The Vanguard Group | 13G/APassive | 0% | 0 | Mar 26, 2026 |
| CD&R XII KEYSTONE HOLDINGS, L.P. | 13DActivist | 42.5% | 21.23M | Feb 6, 2026 |
On February 10, 2025, the Issuer entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Kito Crosby Limited, a company incorporated under the laws of England and Wales ("Kito Crosby"), to acquire all of the issued and outstanding equity of Kito Crosby on the terms set forth in the Stock Purchase Agreement (the "Kito Crosby Acquisition"). On February 10, 2025, in connection with the execution of the Stock Purchase Agreement, the Issuer entered into an Investment Agreement (the "Investment Agreement") with CD&R Holdings and Clayton, Dubilier & Rice Fund XII, L.P. (together with its affiliates the "CD&R Investors"), with Clayton, Dubilier & Rice Fund XII, L.P. participating solely for the purpose of limited provisions therein, providing for the purchase by CD&R Holdings of the Preferred Shares in order to partially finance the Kito Crosby Acquisition. As of the date of this filing, pursuant to the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer") and the Certificate of Amendment, the Issuer's board of directors (the "Board") has appointed CD&R Holdings' designees, Michael Lamach, an operating advisor engaged by the funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"), Nathan K. Sleeper, the Chief Executive Officer of CD&R, and Andrew Campelli, a partner of CD&R, as directors of the Issuer. In their capacity as directors of the Issuer, Messrs. Lamach, Sleeper and Campelli, or any successor CD&R designees, may take an active role in working with the Issuer's management on operational, financial and strategic initiatives. Other than as described above or in Item 6, each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although each Reporting Person expects to evaluate on an ongoing basis the Issuer's financial condition and prospects and its interest in, and intentions with respect to, a variety of transactions that could create shareholder value, including business combinations, acquisitions and refinancing opportunities. Accordingly, each Reporting Person reserves the right to change its plans and intentions at any time, as it deems appropriate based on any such evaluation. In particular, each Reporting Person may, subject to the limitations set forth in the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer"), at any time and from time to time, in privately negotiated transactions or otherwise, acquire additional or all securities of the Issuer; dispose of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire; and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities. In addition, the Reporting Persons may, subject to the limitations set forth in the Investment Agreement, engage in discussions with management, the Board, other stockholders of the Issuer and other relevant parties concerning the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons may also request the Issuer or any of its representatives, directly or indirectly, to amend or waive, or provide the prior written approval of the Board to take any action covered by, one or more of the standstill restrictions in the Investment Agreement prior to forming any plan or intention regarding the Issuer or its securities. Pursuant to the Investment Agreement, CD&R Holdings is entitled to designate nominees to the Board, which will afford access to, and participation in, deliberations of the Board regarding the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may also take steps to explore and prepare for various plans and actions before forming an intention to engage in such plans or actions. As a result of these activities, and subject to the limitations set forth in the Investment Agreement, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein, including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or acquiring another company or business; changing operating or marketing strategies; adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer's capitalization; reviewing dividend and compensation policies; entering into agreements with third parties relating to acquisitions of securities issued or to be issued by the Issuer; or entering into agreements with the management of the Issuer relating to acquisitions of shares by members of management, issuance of equity awards to management, or their employment by the Issuer. Except as described in Item 6 of this Schedule 13D which is incorporated herein by reference, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions required to be reported herein. | ||||
| CD&R INVESTMENT ASSOCIATES XII, LTD. | 13DActivist | 42.5% | 21.23M | Feb 6, 2026 |
On February 10, 2025, the Issuer entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Kito Crosby Limited, a company incorporated under the laws of England and Wales ("Kito Crosby"), to acquire all of the issued and outstanding equity of Kito Crosby on the terms set forth in the Stock Purchase Agreement (the "Kito Crosby Acquisition"). On February 10, 2025, in connection with the execution of the Stock Purchase Agreement, the Issuer entered into an Investment Agreement (the "Investment Agreement") with CD&R Holdings and Clayton, Dubilier & Rice Fund XII, L.P. (together with its affiliates the "CD&R Investors"), with Clayton, Dubilier & Rice Fund XII, L.P. participating solely for the purpose of limited provisions therein, providing for the purchase by CD&R Holdings of the Preferred Shares in order to partially finance the Kito Crosby Acquisition. As of the date of this filing, pursuant to the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer") and the Certificate of Amendment, the Issuer's board of directors (the "Board") has appointed CD&R Holdings' designees, Michael Lamach, an operating advisor engaged by the funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"), Nathan K. Sleeper, the Chief Executive Officer of CD&R, and Andrew Campelli, a partner of CD&R, as directors of the Issuer. In their capacity as directors of the Issuer, Messrs. Lamach, Sleeper and Campelli, or any successor CD&R designees, may take an active role in working with the Issuer's management on operational, financial and strategic initiatives. Other than as described above or in Item 6, each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although each Reporting Person expects to evaluate on an ongoing basis the Issuer's financial condition and prospects and its interest in, and intentions with respect to, a variety of transactions that could create shareholder value, including business combinations, acquisitions and refinancing opportunities. Accordingly, each Reporting Person reserves the right to change its plans and intentions at any time, as it deems appropriate based on any such evaluation. In particular, each Reporting Person may, subject to the limitations set forth in the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer"), at any time and from time to time, in privately negotiated transactions or otherwise, acquire additional or all securities of the Issuer; dispose of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire; and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities. In addition, the Reporting Persons may, subject to the limitations set forth in the Investment Agreement, engage in discussions with management, the Board, other stockholders of the Issuer and other relevant parties concerning the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons may also request the Issuer or any of its representatives, directly or indirectly, to amend or waive, or provide the prior written approval of the Board to take any action covered by, one or more of the standstill restrictions in the Investment Agreement prior to forming any plan or intention regarding the Issuer or its securities. Pursuant to the Investment Agreement, CD&R Holdings is entitled to designate nominees to the Board, which will afford access to, and participation in, deliberations of the Board regarding the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may also take steps to explore and prepare for various plans and actions before forming an intention to engage in such plans or actions. As a result of these activities, and subject to the limitations set forth in the Investment Agreement, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein, including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or acquiring another company or business; changing operating or marketing strategies; adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer's capitalization; reviewing dividend and compensation policies; entering into agreements with third parties relating to acquisitions of securities issued or to be issued by the Issuer; or entering into agreements with the management of the Issuer relating to acquisitions of shares by members of management, issuance of equity awards to management, or their employment by the Issuer. Except as described in Item 6 of this Schedule 13D which is incorporated herein by reference, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions required to be reported herein. | ||||
| CD&R ASSOCIATES XII, L.P. | 13DActivist | 42.5% | 21.23M | Feb 6, 2026 |
On February 10, 2025, the Issuer entered into a Stock Purchase Agreement (the "Stock Purchase Agreement") with Kito Crosby Limited, a company incorporated under the laws of England and Wales ("Kito Crosby"), to acquire all of the issued and outstanding equity of Kito Crosby on the terms set forth in the Stock Purchase Agreement (the "Kito Crosby Acquisition"). On February 10, 2025, in connection with the execution of the Stock Purchase Agreement, the Issuer entered into an Investment Agreement (the "Investment Agreement") with CD&R Holdings and Clayton, Dubilier & Rice Fund XII, L.P. (together with its affiliates the "CD&R Investors"), with Clayton, Dubilier & Rice Fund XII, L.P. participating solely for the purpose of limited provisions therein, providing for the purchase by CD&R Holdings of the Preferred Shares in order to partially finance the Kito Crosby Acquisition. As of the date of this filing, pursuant to the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer") and the Certificate of Amendment, the Issuer's board of directors (the "Board") has appointed CD&R Holdings' designees, Michael Lamach, an operating advisor engaged by the funds managed by Clayton, Dubilier & Rice, LLC ("CD&R"), Nathan K. Sleeper, the Chief Executive Officer of CD&R, and Andrew Campelli, a partner of CD&R, as directors of the Issuer. In their capacity as directors of the Issuer, Messrs. Lamach, Sleeper and Campelli, or any successor CD&R designees, may take an active role in working with the Issuer's management on operational, financial and strategic initiatives. Other than as described above or in Item 6, each of the Reporting Persons reports that neither it nor, to its knowledge, any of the other persons named in Item 2 of this Schedule 13D, currently has any plan or proposal which relates to, or may result in, any of the matters listed in Items 4(a)-(j) of Schedule 13D, although each Reporting Person expects to evaluate on an ongoing basis the Issuer's financial condition and prospects and its interest in, and intentions with respect to, a variety of transactions that could create shareholder value, including business combinations, acquisitions and refinancing opportunities. Accordingly, each Reporting Person reserves the right to change its plans and intentions at any time, as it deems appropriate based on any such evaluation. In particular, each Reporting Person may, subject to the limitations set forth in the Investment Agreement (as described below in "Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer"), at any time and from time to time, in privately negotiated transactions or otherwise, acquire additional or all securities of the Issuer; dispose of all or a portion of the securities of the Issuer that the Reporting Persons now own or may hereafter acquire; and/or enter into derivative transactions with institutional counterparties with respect to the Issuer's securities. In addition, the Reporting Persons may, subject to the limitations set forth in the Investment Agreement, engage in discussions with management, the Board, other stockholders of the Issuer and other relevant parties concerning the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons may also request the Issuer or any of its representatives, directly or indirectly, to amend or waive, or provide the prior written approval of the Board to take any action covered by, one or more of the standstill restrictions in the Investment Agreement prior to forming any plan or intention regarding the Issuer or its securities. Pursuant to the Investment Agreement, CD&R Holdings is entitled to designate nominees to the Board, which will afford access to, and participation in, deliberations of the Board regarding the business, operations, Board composition, management, strategy and future plans of the Issuer. The Reporting Persons may also take steps to explore and prepare for various plans and actions before forming an intention to engage in such plans or actions. As a result of these activities, and subject to the limitations set forth in the Investment Agreement, one or more of the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management, or capital structure of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein, including, without limitation, such matters as disposing of one or more businesses; selling the Issuer or acquiring another company or business; changing operating or marketing strategies; adopting, not adopting, modifying, or eliminating certain types of anti-takeover measures; restructuring the Issuer's capitalization; reviewing dividend and compensation policies; entering into agreements with third parties relating to acquisitions of securities issued or to be issued by the Issuer; or entering into agreements with the management of the Issuer relating to acquisitions of shares by members of management, issuance of equity awards to management, or their employment by the Issuer. Except as described in Item 6 of this Schedule 13D which is incorporated herein by reference, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions required to be reported herein. | ||||
| Dimensional Fund Advisors LP | 13G/APassive | 4.8% | 1.37M | Jan 21, 2026 |
| Macquarie Group Limited | 13G/APassive | 0% | 0 | Nov 13, 2025 |
| Macquarie Management Holdings Inc | 13G/APassive | 0% | 0 | Nov 13, 2025 |
| Macquarie Investment Management Business Trust | 13G/APassive | 0% | 0 | Nov 13, 2025 |