Crane acquires Technifab Products for $40.5M

Crane (CR) announced that it completed the acquisition of Technifab Products for $40.5M on a cash-free and debt- free basis. Founded in 1992 by Noel Short, Technifab is headquartered in Brazil, Indiana. Through September, Technifab had trailing 12-month sales and adjusted EBITDA of approximately $20M and $4M, respectively. Technifab joins Crane as part of the company’s Process Flow Technologies, or PFT, segment.