Crane Co. to Acquire MEI Conlux Holdings for $820M

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Crane Co.
CR
announced Thursday that it has signed an agreement to purchase 100% of the equity interests in MEI Conlux Holdings (U.S.), Inc. and its affiliate MEI Conlux Holdings (Japan), Inc. (together “MEI”) from Bain Capital and Advantage Partners. The purchase price is approximately $820 million on a cash free and debt free basis, representing 9.6 times MEI's estimated 2012 EBITDA of $85 million. MEI, a leading provider of payment solutions for unattended transaction systems, serves customers in the transportation, gaming, retail, service payment and vending markets. Headquartered in Malvern, PA, and with sales of approximately $400 million in 2012, MEI has customers in over 100 countries and employs 820 people worldwide.
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Posted In: NewsGuidanceAsset SalesManagementM&AGlobal
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