News From Crane Co
Diversified Industrial Crane Co. to Acquire Boston-Based Company “Crane Currency” for $800 Million

Diversified Industrial Crane Co. to Acquire Boston-Based Company “Crane Currency” for $800 Million, positions Crane Co. to be one of the leading global players in the currency & payment market • With this acquisition, Crane Co. expects to deliver greater than 10% adjusted EPS growth for the next several years Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, announced that it has signed an agreement to purchase 100% of the equity interests in “Crane Currency” from private equity firm Lindsay Goldberg, members of the Crane family, and other shareholders, for $800 million.

Founded in 1801, Crane Currency is a pioneer in advanced micro-optic security technology, and a fully integrated supplier of secure and highly engineered banknotes for central banks all over the world. Mr. Max Mitchell, President and Chief Executive Officer of Crane Co., said, “We are extremely excited to announce this transaction, which will be Crane Co.’s second largest ever, and brings together two companies with nearly 380 years of combined history. Crane Currency is the fastest growing, fully integrated global currency provider in the growing global banknote supply and security industry. Making it part of Crane Co. is a logical extension of our expanding presence in the currency and payment markets. Our combined businesses will be able to offer end-to-end currency and security solutions, from substrate manufacturing and banknote design and printing to micro-optics and banknote validation.”

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