Market Overview

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

Crane Co. (NYSE: 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.

See full press release

Posted-In: News Guidance Asset Sales Management M&A Global

 

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