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Crane Co. Snags Currency Maker From PE Firm For $800M

Law360, New York (December 5, 2017, 8:55 PM EST) -- Industrial manufacturer Crane Co. on Tuesday said it inked an $800 million deal with private equity firm Lindsay Goldberg and members of the Crane family to buy all of the equity interests in Massachusetts-based global currency producer Crane & Co. Inc.

Under the deal, Crane Co. said it will buy the banknotes supplier on a cash-free and debt-free basis and plans to finance the deal through cash on hand and additional debt. The company continued that it already has commitments covering all of the financing needs...
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