Home » Crane Co. to Acquire Noble Composites for $72M
Crane Co. to Acquire Noble Composites for $72M
August 10, 2006
Crane Co., Stamford, CT, a diversified manufacturer of highly engineered industrial products, has agreed to purchase Noble Composites, Inc., a privately held company specializing in the manufacture and sale of premium, high-gloss finished composite panels used by motorhome and travel trailer manufacturers, for $72 million in cash.
Noble is in Goshen, IN, where it employs 155 people. Founded in 2002, Noble had sales of $45 million in the past 12 months.
Eric Fast, president and CEO of Crane Co., said, "Noble Composites is complementary to our fiberglass reinforced plastics business, which has served recreational vehicle (RV) manufacturers for years. Noble's products broaden our product offering and enhance our ability to serve the RV industry in the years to come. We expect this acquisition will be neutral to our earnings in 2006."
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane provides products to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. The Company has five business segments: Aerospace & Electronics, Fluid Handling, Engineered Materials, Merchandising Systems, and Controls. Crane has approximately 10,500 employees in North America, South America, Europe, Asia and Australia.