Deal Details
Sale of its Instrumentation and Sampling Business to Crane Co.
Summary
Baird served as the exclusive financial advisor to CIRCOR International, Inc. on this transaction
About
CIRCOR International, Inc. (“CIRCOR”) (NYSE:CIR) recently announced the sale of its Instrumentation and Sampling business (“I&S” or the “Company”) to Crane Co. (“Crane”) (NYSE:CR) for $172 million.CIRCOR designs, manufactures and markets highly-engineered flow and motion control products for markets including industrial, energy and aerospace & defense. CIRCOR has a diversified product portfolio with recognized, market-leading brands that fulfill its customers’ unique application needs. CIRCOR has a global presence and operates 28 major manufacturing facilities that are located in North America, Western Europe, Morocco and India. CIRCOR is headquartered in Burlington, Massachusetts.
I&S historically generated approximately $80 million in annual revenue with operating income margins of approximately 19%. I&S manufactures valves, fittings, regulators, and sampling systems, primarily serving energy end markets.
Crane is a diversified manufacturer of highly-engineered industrial products. Crane provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. Crane has four business segments: fluid handling, payment & merchandising technologies, aerospace & electronics and engineered materials. Crane is headquartered in Stamford, Connecticut.
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- Date
- February 2020
- Company
- CIRCOR International, Inc.
- Transaction
- M&A
- Sectors
- Industrial
- Target Location
- North America
- Acquiror Location
- North America
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