Crane Company (NYSE: CR) has announced its agreement to acquire Precision Sensors & Instrumentation (PSI) from Baker Hughes (NASDAQ: BKR) for $1,060 million. PSI is projected to have 2025 sales of approximately $390 million with an adjusted EBITDA of approximately $60 million.
Max H. Mitchell, Chairman of the Board, President, and CEO of Crane Company, noted that PSI is expected to deliver long-term sales growth consistent with Crane’s current profile in the 4% to 6% range, with operating profit leveraging at approximately 35%. Following the acquisition, Crane estimates a net debt to adjusted EBITDA ratio of approximately 1x, leaving substantial capacity for further acquisitions.
Crane Company intends to finance the acquisition with a combination of cash on hand and additional debt. The acquisition is expected to close at the end of 2025 or early 2026, pending regulatory approvals and customary closing conditions.
Crane Company has two strategic growth platforms, aerospace & electronics and process flow technologies, and has approximately 7,500 employees across the Americas, Europe, the Middle East, Asia, and Australia. Today the company's shares have moved 0.51% to a price of $186.94. If you want to know more, read the company's complete 8-K report here.
