Crane Company to Acquire Precision Sensors & Instrumentation from Baker Hughes Company
STAMFORD, Conn., June 09, 2025--(BUSINESS WIRE)--Crane Company (NYSE: CR) ("Crane" or the "Company"), a premier industrial manufacturing and technology company, announced that it has signed an agreement to acquire Precision Sensors & Instrumentation ("PSI"), a leading provider of sensor-based technologies for aerospace, nuclear and process industries, from Baker Hughes (NASDAQ: BKR), an energy technology company, for $1,060 million after adjusting for expected tax benefits with an estimated net present value of approximately $90 million.
PSI is expected to have 2025 sales of approximately $390 million, with adjusted EBITDA of approximately $60 million.
Max H. Mitchell, Chairman of the Board, President and Chief Executive Officer of Crane Company said, "PSI is a unique asset with three iconic brands that are highly complementary to both of our segments.
"Within our Aerospace & Electronics segment, the addition of the Druck brand meaningfully strengthens our pressure sensing capabilities across critical applications—including environmental control systems, hydraulics, and engine monitoring—with strong positions in both single-aisle and widebody aircraft platforms. Additionally, Druck expands our presence into ground-based test and calibration equipment, further extending our technological capabilities and market reach.
"Within our Process Flow Technologies segment, the addition of Reuter-Stokes will double the size and capabilities of our existing Crane Nuclear business. With its industry-leading radiation sensing and detection technologies, Reuter-Stokes enhances our offerings for nuclear plant operations and homeland security. It also positions us strongly to capitalize on the renewed global investment in nuclear energy. The Panametrics business adds pioneering technologies to our portfolio, including advanced ultrasonic flow meters and precision moisture analyzers. These solutions support critical process industries by enabling accurate measurement of liquids and gases across applications such as chemical production, LNG transportation, cryogenic gas storage, pipelines, refining, water and wastewater treatment facilities, and other essential industrial processes.
"The bottom line is that PSI is a global leader in highly sophisticated sensor-based technologies for mission critical applications in harsh and hazardous environments. These businesses are a perfect fit with Crane's existing portfolio, enhancing our product portfolio and technology capabilities in key target markets including aerospace & defense, nuclear, industrial process sensing, and water and wastewater."
Mr. Mitchell continued, "Consistent with our unwavering focus on driving shareholder value, this transaction meets all of Crane Company's strategic and financial criteria, including a 10% ROIC by year five. We expect PSI 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%. In addition, over the next several years, we expect margin expansion from deployment of the Crane Business System, driving both commercial and operational excellence initiatives, and building on the already strong execution and leadership in their respective markets. Following the acquisition, we estimate that Crane will have a net debt to adjusted EBITDA ratio of approximately 1x, leaving us with substantial capacity for further acquisitions. I would like to thank the entire Baker Hughes leadership team for their professionalism and support during this process and we look forward to working a smooth and seamless transition."
Alex Alcala, Crane's Executive Vice President and Chief Operating Officer, added, "The PSI acquisition is an important next step in our multi-year, ongoing portfolio evolution. Since our April 2023 separation, we have continued to focus on highly-engineered products for mission-critical applications with a higher growth and higher gross margin profile. We have a proven track record of creating value through acquisitions, and we believe that the strong fit of PSI with our existing business, combined with our consistently differentiated execution, will drive attractive financial returns."
The purchase of PSI is contingent upon regulatory approvals and customary closing conditions. Crane Company intends to finance the acquisition with a combination of cash on hand and additional debt. The acquisition is currently expected to close at the end of 2025 or early 2026.
About Crane Company
Crane Company has delivered innovation and technology-led solutions to its customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process industry end markets. The Company has two strategic growth platforms, Aerospace & Electronics and Process Flow Technologies. Crane has approximately 7,500 employees in the Americas, Europe, the Middle East, Asia and Australia. For more information, visit www.craneco.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the meaning of the federal securities laws. Any statements contained in this press release, except to the extent that they contain historical facts, are forward-looking and accordingly are based on management's current assumptions, expectations, and beliefs. Forward-looking statements are subject to risks and uncertainties that could lead to actual results differing materially from those expected or implied, including, but not limited to, market risks, the possibility that the expectations and assumptions relating to PSI's future results and projections may prove incorrect, and the risks of being unable to successfully value, integrate or realize the opportunities and synergies from the businesses we acquire, including the PSI business. These and other risk factors are discussed in the Company's filings from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date hereof, and Crane assumes no (and disclaims any) obligation to revise or update any forward-looking statements.
The financial projections and estimates in this press release are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainty and contingencies, many of which are beyond our control. We are not expressing an opinion or providing any assurance with respect thereto. The inclusion of financial projections and estimates in this press release should not be regarded as a representation that the results reflected in such financial projections and estimates will be achieved.
Non-GAAP Explanation
Crane Company reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). This press release includes an estimated forward-looking non-GAAP financial measure, estimated adjusted EBITDA for 2025, for the above referenced Precision Sensors & Instrumentation business that is not prepared in accordance with GAAP. This non-GAAP measure is in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP. We believe that this non-GAAP measure of financial results (including on a forward-looking or projected basis) provides useful supplemental information to investors about the Precision Sensors & Instrumentation business. Our management uses this forward-looking non-GAAP measure, among other GAAP and non-GAAP measures, to evaluate and assess the projected financial and operating results of Precision Sensors & Instrumentation. However, there are a number of limitations related to the use of this non-GAAP measure and its nearest GAAP equivalent. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore our non-GAAP measures may not be directly comparable to similarly titled measures of other companies.
Reconciliations of certain forward-looking and projected non-GAAP measures for Precision Sensors & Instrumentation, including Adjusted EBITDA, to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on our future GAAP results. In the case of Precision Sensors & Instrumentation specifically, access to certain information necessary to fully reconcile its forecasts of non-GAAP measures to their nearest GAAP equivalent measure is not yet available. The forward looking and projected non-GAAP measure is calculated as follows:
"Adjusted EBITDA" adds back to net income: net interest expense, income tax expense, depreciation and amortization, and Special Items such as transaction related expenses, certain non-recurring facility move and lease expenses, and prior owner discretionary expenses. We believe that adjusted EBITDA provides investors with an alternative metric that may be a meaningful indicator of Precision Sensors & Instrumentation's performance and provides useful information to investors regarding its financial condition that is complementary to GAAP metrics. Further, for Precision Sensors & Instrumentation, adjusted EBITDA may also be a useful complementary measure to GAAP metrics because it excludes certain items, namely net interest expense, income tax expense, and amortization, that could vary significantly when forecasted for Precision Sensors & Instrumentation pre-acquisition as a standalone entity compared to what those results may be with Precision Sensors & Instrumentation under Crane's ownership.
Additional Information
"Operating profit leverage" is calculated as the change in operating profit compared to the prior year divided by the change in sales compared to the prior year.
"Net Debt to Adjusted EBITDA" is calculated as Net Debt (total debt less total cash) divided by Adjusted EBITDA.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250606910787/en/
Contacts
Jason D. Feldman, SVP, Investor Relations, Treasury & TaxAllison Poliniak, VP Investor RelationsIR@craneco.com www.craneco.com

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
34 minutes ago
- Yahoo
Gemini's IPO Filing Signals Crypto Market Maturation
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Gemini announced on Friday that it had confidentially filed for an initial public offering in the U.S., according to Reuters, marking a pivotal moment in the cryptocurrency industry's evolution toward mainstream financial acceptance. This move comes during a particularly favorable window for high-risk sector listings, with improved market conditions creating renewed investor appetite for growth-oriented companies. The timing of Gemini's Friday announcement appears strategically calculated. The cryptocurrency exchange's confidential IPO filing represents a significant milestone in the digital asset industry's maturation, coming at a moment when market sentiment has shifted decisively in favor of risk assets. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Circle's (NYSE:CRCL) successful public debut last week is a crucial precedent. The stablecoin issuer's 'blowout' performance demonstrates that public markets are ready to embrace well-positioned crypto companies. This success creates a demonstration effect that could encourage a wave of similar listings from digital asset firms that have been waiting on the sidelines. Timing Advantages: Market conditions have improved significantly from the crypto winter of 2022-23 Regulatory clarity has increased, reducing some uncertainty premium Institutional adoption of digital assets continues to grow The successful Circle IPO has validated investor interest Potential Challenges: Crypto markets remain highly volatile, which could affect valuation Regulatory landscape continues evolving Competition from established players like Coinbase (NASDAQ:COIN) and Binance Need to demonstrate sustainable revenue models beyond trading fees Trending: New to crypto? on Coinbase. This IPO filing reflects several important trends: Industry Maturation: Crypto companies are increasingly seeking traditional capital market access, signaling the sector's evolution from speculative frontier to established financial services category. Investor Sentiment Shift: The renewed appetite for high-risk sector IPOs suggests risk-on sentiment has returned after a period of market caution. Regulatory Progress: Companies feel sufficiently confident in the regulatory environment to pursue public listings, indicating improved clarity around compliance requirements. For Retail Investors: Crypto-related stocks offer exposure to digital asset growth without direct cryptocurrency ownership Consider these investments as part of a diversified portfolio's higher-risk allocation Monitor regulatory developments that could impact business models For Financial Professionals: Evaluate client suitability for crypto-adjacent equity investments Consider correlation risks with both traditional tech stocks and cryptocurrency markets Assess liquidity and volatility profiles compared to direct crypto exposure Key Takeaways Gemini's IPO filing, following Circle's successful debut, suggests the crypto industry is entering a new phase of mainstream financial market integration. While this represents significant progress for the sector, investors should remain mindful of the inherent volatility and regulatory uncertainties that continue to characterize digital asset markets. The success of these offerings will likely determine whether we see a broader wave of crypto IPOs or a more selective approach based on market reception and regulatory developments. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Gemini's IPO Filing Signals Crypto Market Maturation originally appeared on Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
43 minutes ago
- Yahoo
Mesoblast Maintains Momentum With FDA on Accelerated Approval Pathway for Revascor® in Ischemic Heart Failure and Label Extension for Ryoncil® in Adults With GvHD
NEW YORK, June 11, 2025 (GLOBE NEWSWIRE) -- Mesoblast (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, today provided an update on continued momentum with United States Food and Drug Administration (FDA) regarding both accelerated approval pathway for Revascor® (rexlemestrocel-L) in the treatment of patients with ischemic chronic heart failure with reduced ejection fraction (HFrEF) and inflammation, and label extension for Ryoncil® (remestemcel-L-rknd) in adults with steroid refractory acute graft versus host disease (SR-aGvHD). In the first week of June, Mesoblast held a Type B meeting with FDA under its Regenerative Medicines Advanced Therapy (RMAT) designation for REVASCOR to discuss components of a potential filing for a Biologics License Application (BLA). There was general alignment on items regarding chemistry, manufacturing & controls (CMC), potency assays for commercial product release, and proposed design and primary endpoint for the confirmatory trial post-approval. The Company will await the final minutes from FDA in order to provide detailed feedback and timelines for potential filing. In early July, Mesoblast has an upcoming meeting with FDA to discuss a pivotal trial of Ryoncil® in adults with SR-aGvHD. This trial will be conducted with the NIH-funded Bone Marrow Transplant Clinical Trials Network (BMT-CTN), the objective being to extend the product's label from children to adults with SR-aGvHD. Ryoncil® is the first and only mesenchymal stromal cell product approved by the FDA for any indication. Ryoncil® became commercially available for purchase in the United States on March 28, 2025, within one quarter of receiving FDA approval to treat children with SR-aGvHD. More than 20 transplant centers will have been onboarded by the end of the quarter, exceeding the company's expectations at product launch. Mesoblast has continued to expand coverage for Ryoncil® to over 220 million US lives insured by commercial and government payers. To date, 37 of the 51 States provide fee-for-service Medicaid coverage for Ryoncil® through Orphan Drug Lists or medical exception / prior authorization (PA) process. The remainder will come online July 1, 2025, with mandatory coverage for all 24 million lives. 'We are very pleased with the momentum of interactions with FDA on both our cardiac and GvHD programs,' said Mesoblast Chief Executive Dr. Silviu Itescu. 'We are also encouraged by the strength of the of the Ryoncil® commercial launch, the rate of hospital onboarding, physician adoption, and payor coverage exceeding our expectations in the ten weeks since commercial launch. We will be providing an update on sales of Ryoncil® in our quarterly activities report at the end of next month.' About Mesoblast Mesoblast (the Company) is a world leader in developing allogeneic (off-the-shelf) cellular medicines for the treatment of severe and life-threatening inflammatory conditions. The therapies from the Company's proprietary mesenchymal lineage cell therapy technology platform respond to severe inflammation by releasing anti-inflammatory factors that counter and modulate multiple effector arms of the immune system, resulting in significant reduction of the damaging inflammatory process. Mesoblast's RYONCIL® (remestemcel-L) for the treatment of steroid-refractory acute graft versus host disease (SR-aGvHD) in pediatric patients 2 months and older is the first FDA approved mesenchymal stromal cell (MSC) therapy. Please see the full Prescribing Information at Mesoblast is committed to developing additional cell therapies for distinct indications based on its remestemcel-L and rexlemestrocel-L allogeneic stromal cell technology platforms. RYONCIL is being developed for additional inflammatory diseases including SR-aGvHD in adults and biologic-resistant inflammatory bowel disease. Rexlemestrocel-L is being developed for heart failure and chronic low back pain. The Company has established commercial partnerships in Japan, Europe and China. About Mesoblast intellectual property: Mesoblast has a strong and extensive global intellectual property portfolio, with over 1,000 granted patents or patent applications covering mesenchymal stromal cell compositions of matter, methods of manufacturing and indications. These granted patents and patent applications are expected to provide commercial protection extending through to at least 2041 in major markets. About Mesoblast manufacturing: The Company's proprietary manufacturing processes yield industrial-scale, cryopreserved, off-the-shelf, cellular medicines. These cell therapies, with defined pharmaceutical release criteria, are planned to be readily available to patients worldwide. Mesoblast has locations in Australia, the United States and Singapore and is listed on the Australian Securities Exchange (MSB) and on the Nasdaq (MESO). For more information, please see LinkedIn: Mesoblast Limited and X: @Mesoblast Forward-Looking StatementsThis press release includes forward-looking statements that relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. We make such forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements should not be read as a guarantee of future performance or results, and actual results may differ from the results anticipated in these forward-looking statements, and the differences may be material and adverse. Forward-looking statements include, but are not limited to, statements about: the initiation, timing, progress and results of Mesoblast's preclinical and clinical studies, and Mesoblast's research and development programs; Mesoblast's ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; Mesoblast's ability to advance its manufacturing capabilities; the timing or likelihood of regulatory filings and approvals, manufacturing activities and product marketing activities, if any; the commercialization of Mesoblast's RYONCIL for pediatric SR-aGVHD and any other product candidates, if approved; regulatory or public perceptions and market acceptance surrounding the use of stem-cell based therapies; the potential for Mesoblast's product candidates, if any are approved, to be withdrawn from the market due to patient adverse events or deaths; the potential benefits of strategic collaboration agreements and Mesoblast's ability to enter into and maintain established strategic collaborations; Mesoblast's ability to establish and maintain intellectual property on its product candidates and Mesoblast's ability to successfully defend these in cases of alleged infringement; the scope of protection Mesoblast is able to establish and maintain for intellectual property rights covering its product candidates and technology; estimates of Mesoblast's expenses, future revenues, capital requirements and its needs for additional financing; Mesoblast's financial performance; developments relating to Mesoblast's competitors and industry; and the pricing and reimbursement of Mesoblast's product candidates, if approved. You should read this press release together with our risk factors, in our most recently filed reports with the SEC or on our website. Uncertainties and risks that may cause Mesoblast's actual results, performance or achievements to be materially different from those which may be expressed or implied by such statements, and accordingly, you should not place undue reliance on these forward-looking statements. We do not undertake any obligations to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Release authorized by the Chief Executive. For more information, please contact:Paul Hughes T: +61 3 9639 6036 Allison Worldwide Emma Neal T: +1 603 545 4843 E: BlueDot Media Steve Dabkowski T: +61 419 880 486 E: steve@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
44 minutes ago
- Yahoo
Metsera Unveils First-in-Class Once-Monthly Amylin Candidate MET-233i's Positive Phase 1 Results
Metsera, Inc. (NASDAQ:MTSR) is one of the 13 Biotech Stocks with Huge Upside Potential. Metsera, Inc. (NASDAQ:MTSR) reported encouraging Phase 1 results for MET-233i, its once-monthly amylin analog, which showed a mean weight loss of up to 8.4% at Day 36 after subtracting the placebo. A laboratory technician researching a sample of cells in a biotechnology laboratory. The candidate supported monthly dosing with the longest half-life of any known amylin analog, 19 days. MET-233i had no safety indications and was well tolerated. The trial included 80 overweight or obese participants, with individual cases resulting in weight loss of up to 10.2%. MET-233i displayed high tolerability and dose-linear pharmacokinetics when tested in both single and multiple ascending dose formats. The majority of adverse gastrointestinal events occurred in the first week and were mild and dose-dependent. According to preliminary findings, it might make it practical to use its fully-biased GLP-1 RA candidate, MET-097i, in the first monthly GLP-1 + amylin combination therapy. Topline results from combination trials and an ongoing monotherapy study with MET-097i are anticipated in late 2025. Metsera, Inc. (NASDAQ:MTSR)'s HALO™ peptide stabilization platform supports the program. Metsera, Inc. (NASDAQ:MTSR) is a clinical-stage biopharmaceutical business focused on developing new treatments for obesity and metabolic diseases. It is one of the stocks with the biggest upside. While we acknowledge the potential of MTSR as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data