Crane Company (NYSE: CR) closes $1.06B PSI acquisition from Baker Hughes

Rhea-AI Filing Summary

Crane Company has completed its previously announced acquisition of Precision Sensors & Instrumentation (PSI). On January 1, 2026, the company acquired all of the sellers’ interest in Panametrics, LLC, which represents 100% of PSI, from Baker Hughes Holdings LLC and Bently Nevada, LLC under a June 6, 2025 Purchase Agreement.

The purchase price is $1,060 million after adjusting for expected tax benefits with a net present value of approximately $90 million, and is still subject to contractual adjustments for working capital, cash acquired and other transaction-related costs. Crane also disclosed that required historical and pro forma financial statements for the acquisition will be filed by amendment within 71 days.

Insights

Industrial M&A and capital allocation analyst

Crane closes a $1.06B PSI acquisition, with tax benefits and pending pro forma details.

Crane Company has closed the acquisition of Precision Sensors & Instrumentation (PSI) by purchasing all interests in Panametrics, LLC from Baker Hughes entities. The stated purchase price is $1,060 million after incorporating expected tax benefits with a net present value of about $90 million, highlighting the role of tax attributes in the valuation.

The price remains subject to adjustments for working capital, cash acquired and certain transaction-related costs, so the final consideration could differ from the headline amount. The transaction is clearly significant given its scale, but the excerpt does not quantify PSI’s revenue, profit, or margin profile, so its impact on Crane’s earnings mix is not yet detailed.

Crane plans to file the required historical and pro forma financial statements for PSI within 71 calendar days of the report’s required filing date. Those future amendments will show how PSI’s results would have affected Crane on a combined basis, which will help investors assess the acquisition’s contribution to growth and leverage.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 1, 2026

CRANE COMPANY

(Exact name of registrant as specified in its charter)

Delaware		1-41570		88-2846451
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

100 First Stamford Place Stamford, CT		06902
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: 203-363-7300

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $1.00		CR		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

SECTION 2 – FINANCIAL INFORMATION

Item 2.01 Completion of Acquisition or Disposition of Assets.

On January 1, 2026, Crane Company (the “Company”) completed its previously announced acquisition of Precision Sensors & Instrumentation (“PSI”) pursuant to a Purchase Agreement dated June 6, 2025 (the “Agreement”) with Baker Hughes Holdings LLC and Bently Nevada, LLC (collectively, the “Sellers”). Pursuant to the Agreement, the Company acquired all of Seller’s interest in Panametrics, LLC, which constituted 100% of PSI, for a purchase price of $1,060 million after adjusting for expected tax benefits with a net present value of approximately $90 million, but before contractual adjustments for working capital, cash acquired, and certain other transaction-related costs.

SECTION 8 – OTHER EVENTS

Item 8.01 Other Events.

On January 5, 2026, the Company issued a press release announcing the completion of the acquisition of PSI from Baker Hughes. A copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits.

(a) The required financial statements will be filed by amendment as soon as practicable, but not later than 71 calendar days after the date this Report is required to be filed.

(b) The required pro forma financial statements will be filed by amendment as soon as practicable, but not later than 71 calendar days after the date this Report is required to be filed.

(c) None

(d) Exhibits

99.1		Press Release issued by Crane Company on January 5, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				CRANE COMPANY
January 5, 2026				By:		/s/ Anthony M. D’Iorio
						Anthony M. D’Iorio
						Executive Vice President, General Counsel and Secretary

FAQ

What acquisition did Crane Company (CR) complete on January 1, 2026?

On January 1, 2026, Crane Company completed its previously announced acquisition of Precision Sensors & Instrumentation (PSI) by acquiring all of the sellers’ interest in Panametrics, LLC, which constituted 100% of PSI.

How much did Crane Company (CR) pay to acquire PSI?

Crane Company agreed to a purchase price of $1,060 million, after adjusting for expected tax benefits with a net present value of approximately $90 million, and before contractual adjustments for working capital, cash acquired and other transaction-related costs.

Who were the sellers in Crane Company’s acquisition of PSI?

The sellers were Baker Hughes Holdings LLC and Bently Nevada, LLC, which collectively sold all of their interest in Panametrics, LLC (representing 100% of PSI) to Crane Company.

When was the purchase agreement for Crane Company’s PSI acquisition signed?

The Purchase Agreement for the PSI acquisition was dated June 6, 2025, between Crane Company and the sellers, Baker Hughes Holdings LLC and Bently Nevada, LLC.

Will Crane Company (CR) provide financial statements related to the PSI acquisition?

Yes. Crane Company stated that the required historical financial statements and pro forma financial statements for the PSI acquisition will be filed by amendment as soon as practicable, but not later than 71 calendar days after the date the report is required to be filed.

Did Crane Company issue a press release about the PSI acquisition?

Yes. On January 5, 2026, Crane Company issued a press release announcing completion of the PSI acquisition, which is included as Exhibit 99.1 to the report.