Crane acquires German valve firm
December 23rd, 2008Crane Energy Flow Solutions, a Crane Co. Company and a leading supplier of flow control products and services to the global energy infrastructure markets, purchased all of the capital stock of the Krombach Group. The company, which is based in Kreuztal, Germany, employs 640 people globally and 2008 sales are estimated to be approximately $91 million. The purchase includes manufacturing and foundry facilities in Slovenia and ownership of a joint venture in China.
The Krombach Group is a leading supplier of innovative, high-quality, highly-engineered valves and standard valves to the power, oil and gas, chemical, tank wagon, and water and environmental technology markets. The product range includes a large range of high-quality industrial valve product groups; specialties (triple-offset butterfly valves, metal-seated ball valves), customized (butterfly, swing check, soft-seated ball valves) and standard products (strainers, sight glasses, float, globe and gate, ball valves and throttle valves).
Crane Energy Flow Solutions’ product portfolio brings well-known brands together focused on the power and oil & gas markets including: Aloyco, Center Line, Compac-Noz, Crane, Duo-Chek, Flowseal, Jenkins, Noz-Chek, Pacific, Stockham, Triangle and Uni-Chek.
“This is a strategic acquisition which strengthens and reinforces the Crane Energy position in our core markets. The products are very complimentary to our existing portfolio and we follow very similar channels,” said president Vince Buffa. “We will be offering Krombach’s products through our existing channel structure and Crane Energy sales teams, which will be strengthened and supported by the addition of the Krombach sales personnel.”