The Crosby Group invests in Verton Technologies Australia

Value: Undisclosed.

Area: Finance, corporate.

Key players: The legal team advising Verton Technologies Australia was led by DLA Piper corporate partner Lyndon Masters, with assistance from senior associate Elizabeth Campbell and solicitor Mim Sherington.

Deal significance: The Crosby Group is described as a global leader in lifting, rigging, and load securement hardware, while Verton Technologies Australia is described as a local company, which develops and commercialises disruptive advancements in load orientation technology that remove the need for human-held tag lines in lifting applications.

“These innovations play a critical role in improving the safety and productivity of global lifting operations,” a statement from DLA Piper explained, noting that the transaction will see The Crosby Group and Verton “collaborate in the market to accelerate the adoption of this game-changing load orientation technology”.

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“By leveraging The Crosby Group’s global footprint, Verton will bring an elevated level of safety to an increasing number of workers,” the statement added.

Commenting further, DLA Piper lead partner Mr Masters said: “We are thrilled to be able to support Verton Technologies in the next stage of its growth, and we look forward to see Verton continue to expand internationally.”