CRANE COMPANY TO ACQUIRE PRECISIONS ENSORS & INSTRUMENTATION FROM BAKER HUGHES COMPANY
克瑞公司于2025年6月9日从贝克.休斯公司收购精密传感器与仪器部门
On June 9, 2025, Crane 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, an energy technology company, for 1.15 billion.
克瑞公司于2025年6月9日宣布已签署协议，将以11.5亿美元的价格从能源技术公司贝克.休斯旗下收购精密传感器与仪器部门（“PSI”），PSI是航空航天、核能和工艺流程领域传感器技术的领先供应商。
PSI is expected to have 2025 sales of approximately 390 million, with adjusted EBITDA of approximately 60 million.
PSI预计2025年的销售额约为3.9亿美元，调整后的EBITDA约为6000万美元。
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.
克瑞公司董事长、总裁兼首席执行官Max H. Mitchell表示：“PSI是一项独特的资产，拥有三个标志性品牌，与我们的两个业务部门高度互补。
“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.
“在我们的航空航天与电子业务部门，Druck品牌的加入显著增强了我们在关键应用中的压力传感能力，包括环境控制系统、液压系统和发动机监控，在单通道和宽体飞机平台上均占据强势地位.。此外，Druck还扩展了我们在地面测试和校准设备领域的业务，进一步拓展了我们的技术能力和市场覆盖范围。
“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.
“在我们的工艺流程技术业务部门，Reuter-Stokes的加入将使我们的克瑞核能业务规模和能力翻倍。凭借其行业领先的辐射传感和检测技术，Reuter-Stokes增强了我们在核电站运营和国土安全领域的服务。这也使我们能够充分利用全球对核能投资的新热潮。
“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.
“Panametrics业务为我们的产品组合增添了开创性技术，包括先进的超声波流量计和精密湿度分析仪。这些解决方案通过精确测量液体和气体，支持关键过程工业，应用领域包括化工生产、液化天然气运输、低温气体储存、管道、炼油、水和废水处理设施以及其他基本工业过程。
“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.”
“归根结底，PSI是在恶劣和危险环境中为关键任务应用提供高度复杂传感器技术的全球领导者。这些业务与克瑞现有的产品组合完美契合，增强了我们在航空航天与国防、核能、工业过程传感以及水和废水处理等关键目标市场的产品组合和技术能力。
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%.
Mr. Mitchell继续说道：“与我们坚定不移地致力于提升股东价值的目标一致，此次交易符合克瑞公司的所有战略和财务标准，包括到第五年实现10%的投资资本回报率。我们预计PSI将实现与克瑞当前水平相一致的长期销售增长，即范围在4%至6%之间，营业利润杠杆率约为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.
此外，在未来几年里，我们预计通过部署克瑞业务系统将实现利润率扩张，推动商业和运营卓越计划，并在各自市场中已有的强大执行力和领导力基础上继续发展。收购完成后，我们预计克瑞的净债务与调整后EBITDA的比率将约为1倍，这为我们进一步收购提供了充足的资金实力。
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.”
我要感谢贝克.休斯整个领导团队在此过程中的专业精神和支持，我们期待实现平稳且无缝的过渡。”
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.”
克瑞执行副总裁兼首席运营官Alex Alcala补充道：“收购PSI是我们多年持续产品组合演变中的重要下一步。自2023年4月分拆以来，我们一直专注于为关键任务应用提供高度工程化的产品，这些产品具有更高的增长率和更高的毛利率。我们在通过收购创造价值方面有着良好的记录，我们相信PSI与我们现有业务的强大契合度，加上我们一贯的差异化的执行能力，将带来可观的财务回报。”
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.
收购PSI需获得监管部门的批准并满足常规的成交条件。克瑞公司计划通过现金和额外债务的组合方式为此次收购提供资金。此次收购预计将于2025年底或2026年初完成。