Crane (CR) Reaffirms 2012 Guidance, Offers 2013 Guidance
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Crane (CR) to Acquire MEI Conlux for $820M
December 21, 2012 6:56 AM ESTCrane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, announced today that it has signed an agreement to purchase 100% of the equity interests in MEI Conlux Holdings (U.S.), Inc. and its affiliate MEI Conlux Holdings (Japan), Inc. from Bain Capital and Advantage Partners. The purchase price is approximately $820 million on a cash free and debt free basis, representing 9.6 times MEIs estimated 2012 EBITDA of $85 million.
MEI, a leading provider of payment solutions for unattended transaction systems, serves customers in the transportation, gaming, retail, service payment and vending markets.... More
