Business Context and Reporting Period
Company: Crane Company (CR)
Filing Type: Form 8-K (Current Report)
Reporting Date: January 1, 2026 (Event Date); January 5, 2026 (Filing Date)
Primary Event: Completion of the acquisition of Precision Sensors & Instrumentation ("PSI"), specifically the 100% interest in Panametrics, LLC, from Baker Hughes Holdings LLC and Bently Nevada, LLC.
Key Financial Metrics
Transaction Value: $1,060 million purchase price.
Adjustments: The price reflects an adjustment for expected tax benefits with a net present value of approximately $90 million.
Exclusions: The stated price is before contractual adjustments for working capital, cash acquired, and certain transaction-related costs.
Financial Statements: The filing does not provide current revenue, profit, cash flow, or debt metrics for the combined entity. Required financial and pro forma statements are scheduled to be filed by amendment within 71 calendar days.
Material Changes
- Asset Acquisition: Crane Co. has expanded its portfolio by acquiring PSI, a business previously held by Baker Hughes.
- Balance Sheet Impact: The transaction involves a significant cash outflow or debt assumption of approximately $1.06 billion, subject to working capital and cash adjustments.
Guidance, Outlook, and Risks
Management Commentary: The filing confirms the transaction was completed pursuant to a Purchase Agreement dated June 6, 2025. A press release detailing the completion was issued on January 5, 2026.
Contingencies: The final purchase price is subject to contractual adjustments for working capital and cash acquired.
Risks: The filing does not explicitly list new risks associated with the acquisition beyond the standard integration and financial adjustment contingencies inherent in such transactions.
Investor Verification Checklist
- Verify the final purchase price after working capital and cash adjustments are finalized.
- Review the upcoming pro forma financial statements (due within 71 days) to assess the impact on Crane's leverage and liquidity.
- Confirm the specific integration timeline and expected synergies in the attached press release (Exhibit 99.1).
- Monitor for any subsequent filings regarding the funding source for the $1.06 billion transaction.