Home » Crane Co. Acquires German Manufacturer Krombach
Crane Co. Acquires German Manufacturer Krombach
December 18, 2008
Crane Co., Stamford, CT, a diversified manufacturer of highly engineered industrial products, acquired Friedrich Krombach GmbH &Company KG Armaturenwerke and Krombach International GmbH, both of Kreuztal, Germany. Krombach is a manufacturer of specialty valve flow products for the power, oil and gas, and chemical markets, employing 640 people globally.
Crane acquired Krombach for $51 million in cash and the assumption of approximately $18 million of net debt. Krombach currently has foundry, machining and assembly facilities in Slovenia and China, in addition to its German operations. Krombach's 2008 sales are estimated to be $91 million.