Crane Co. (NYSE: CR), Stamford, CT, a diversified manufacturer of highly engineered industrial products, has agreed to acquire the equity interests in Crane & Co. Inc. from private equity firm Lindsay Goldberg, members of the Crane family and other shareholders, for $800 million.
Crane & Co. is a Boston-based producer of advanced micro-optic security technology, and a fully integrated supplier of secure and highly engineered banknotes for central banks all over the world. The purchase price represents 8.5x Crane & Co.'s estimated 2017 adjusted EBITDA of $94 million.
