About Crane

Crane Company (Crane) operates as a diversified manufacturer of highly engineered industrial products. The company’s primary end markets include aerospace, defense and space, process industries, non-residential and municipal construction, along with a wide range of general industrial and certain consumer related end markets. The company’s products are sold into primary end markets, which include aerospace, defense and space, process industries, non-residential and municipal construction, along with a wide range of general industrial and certain consumer related end markets. Acquisitions On October 4, 2023, the company completed the acquisition of Baum lined piping GmbH (‘BAUM’). BAUM is a German based company that designs, manufactures, and distributes lined piping products primarily focused on chemical and industrial end markets. BAUM is included in the company’s Process Flow Technologies segment. On January 2, 2024, the company completed the acquisition of Vian Enterprises, Inc. (‘Vian’). Vian is a global designer and manufacturer of multi-stage lubrication pumps and lubrication system components technology for critical aerospace and defense applications with sole-sourced and proprietary content on the highest volume commercial and military aircraft platforms. Vian will be included in the Aerospace & Electronics (‘A&E’) segment. Segments The company’s operations are consisted of three segments: Aerospace & Electronics (‘A&E’), Process Flow Technologies (‘PFT’), and Engineered Materials (‘EM’). Aerospace & Electronics The Aerospace & Electronics segment supplies critical components and systems, including original equipment and aftermarket parts, primarily for the commercial aerospace, and the military aerospace, defense and space markets. The commercial market and military market accounted for 60% and 40%, respectively, of total segment sales in 2023. Sales to original equipment manufacturers (‘OEMs’) and aftermarket customers were 69% and 31%, respectively, in 2023. The company provides mission critical systems that require high reliability and high accuracy, such as pressure sensors for aircraft engine control, aircraft braking systems for commercial aircraft and fighter jets, power conversion solutions for spacecraft and lubrication systems for the harshest and most hazardous environmental conditions. A&E’s integrated capabilities include the following: Power Solutions: Provides enabling technology to accelerate electrification of air, land, space and sea vehicles and systems. Sensing Systems: Provides components and systems for condition and position sensing, and pressure and flow measurement, with high-accuracy, reliability and engineering to excel in rugged aerospace environments. Fluid & Thermal Management: Designs and manufactures positive displacement pumps, centrifugal pumps and true mass flowmeters for aerospace and defense applications. Landing Systems: Provides hydraulic and electric brake control systems with antiskid and autobrake functionality, as well as electronic and hydraulic subsystems for landing gear control. Microwave Solutions: Designs and manufactures high-performance RF and IF components and millimeter-wave systems and subsystems for defense, space and commercial end-use customers. A&E has a long-term growth profile driven by positions on market leading platforms, recent new program wins and continued investment in technology readiness. The segment is also positioned to benefit from underlying market growth driven by increasing new commercial aircraft deliveries, air passenger travel growth, defense investment, ongoing maintenance, repair and overhaul organizations (‘MRO’) requirements and emerging applications in the space market, as well as a strong trend driving greater electrification for aerospace and defense applications. The company’s unique position to drive sustained growth is driven by differentiated technology investment focused on high-growth market segments, including next-generation aircraft engines, advanced ground and sea-based radar systems, Low Earth Orbit satellite constellations, as well as high-power and bi-directional power conversion for numerous emerging commercial and military applications, including more-electric and hybrid-electric ground vehicles and hybrid-electric and pure electric-propulsion aircraft. Facilities are located in the United States, Taiwan, and France. Process Flow Technologies The Process Flow Technologies segment is a provider of highly engineered fluid handling equipment for mission critical applications that require high reliability. The segment is consisted of Process Valves and Related Products, Pumps and Systems and Commercial Valves. Process Valves and Related Products: Manufactures a wide range of on/off isolation valves, including check valves, sleeved plug valves, lined valves, process ball valves, high performance butterfly valves, bellows sealed globe valves, aseptic and industrial diaphragm valves and multi / quarter-turn valve actuation. Other related products include lined pipe, fittings and hoses, air operated diaphragm and peristaltic pumps, instrumentation and sampling systems, valve positioning and control systems, and valve diagnostic and calibration systems. Across the portfolio, the primary focus is on chemical, pharmaceutical and general industrial end markets. Manufacturing facilities, along with sales and service centers, are located across North America, Europe, the Middle East, Asia, and Australia. Pumps and Systems: Manufactures pumps products for water and wastewater applications, primarily in the United States municipal and industrial markets. Commercial Valves: Manufactures valves and related products for the non-residential construction, gas utility and municipal markets. The primary geographies served by the manufacturing operations are the United Kingdom, the Middle East, and continental Europe. The company’s portfolio strategically targets the higher growth and less cyclical chemical, general industrial, water and wastewater, and pharmaceutical industries. The company expects these industries to be outsized growth segments, driven by investment in sustainability and clean energy, aging infrastructure, tightening wastewater regulations and an aging population with a growing demand for healthcare. Engineered Materials The Engineered Materials segment manufactures fiberglass-reinforced plastic (‘FRP’) panels and coils, primarily for use in the manufacturing of recreational vehicles (‘RVs’), and in commercial and industrial buildings applications, with some additional applications, including trailers and other transportation-related products. Engineered Materials sells the majority of its products directly to RV, trailer, and truck manufacturers; and it uses distributors and retailers to serve the commercial and industrial construction markets. Manufacturing facilities are located in the United States. Strategy The company’s strategy focuses on the manufacturing of highly engineered industrial products for specific markets where the company’s scale is a relative advantage, and where the company can compete based on its proprietary and differentiated technology, the company’s deep vertical expertise, and its responsiveness to unique and diverse customer needs. The company continuously evaluates its portfolio, pursue acquisitions that complement the company’s existing businesses and selectively divest businesses where appropriate. History The company was founded in 1855. It was formerly known as Crane Co. and changed its name to Crane Holdings Co. in 2022.