Columbus McKinnon shares neared 20-year lows after weak earnings, as it tried to integrate its Kito Crosby acquisition. CMCO's balance sheet is stressed: Net leverage stands at 5.1x, with annual interest expense near half of projected 2027 adjusted EBITDA. Recent results include a $200M goodwill impairment and sharply lower margins, leading to concerns about the Kito deal's value and integration.