Crane Company To Acquire CryoWorks For ~$61M, Which Has Annual Sales Of ~$28M And Adj. EBITDA ~$5M; Transaction Expected To Close Apr. 30
Portfolio Pulse from Benzinga Newsdesk
Crane Company is set to acquire CryoWorks for approximately $61 million. CryoWorks, with annual sales of around $28 million and an adjusted EBITDA of about $5 million, is expected to be fully acquired by Crane by April 30.
April 22, 2024 | 8:17 pm
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Crane Company's acquisition of CryoWorks for approximately $61 million, with CryoWorks having annual sales of about $28 million and an adjusted EBITDA of $5 million, is expected to enhance Crane's financials and market position.
The acquisition of CryoWorks by Crane Company is likely to have a positive short-term impact on Crane's stock price due to the significant addition to its revenue and EBITDA. The deal size relative to CryoWorks' sales and EBITDA suggests a strategic acquisition aimed at enhancing Crane's market position and financial strength. Given the financial metrics involved and the strategic nature of the acquisition, investor sentiment is expected to be positive, driving up the stock price in the short term.
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