Crane Company (NYSE:CR) signed an agreement to acquire Cryoworks, Inc. for $61 million on April 22, 2024. As of December 31, 2023 Cryoworks, Inc reported annual sales of $28 million and Adjusted EBITDA of $5 million. The transaction is expected to close on April 30, 2024.

Crane Company (NYSE:CR) completed the acquisition of acquire Cryoworks, Inc. on May 1, 2024. On April 29, 2024, Crane Company borrowed approximately $50 million under the Company?s existing Revolving Facility to fund the CryoWorks acquisition.