Sale of its Instrumentation and Sampling Business to Crane Co.
Baird served as the exclusive financial advisor to CIRCOR International, Inc. on this transaction
AboutCIRCOR 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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- February 2020
- CIRCOR International, Inc.
- Target Location
- North America
- Acquiror Location
- North America