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KPS CAPITAL PARTNERS TO ACQUIRE THE ENGINEERED MATERIALS BUSINESS OF CRANE COMPANY
CRCrane pany(CR) Prnewswire·2024-12-02 21:42

Group 1 - KPS Capital Partners has signed a definitive agreement to acquire Crane Composites for an enterprise value of 227million,withthetransactionexpectedtocloseinthefirstquarterof2025[1]−CraneCompositesisaleadingdesignerandmanufactureroffiberglassreinforcedplasticcompositeproducts,servingvariousend−marketsincludingbuildingproducts,recreationalvehicles,andtransportation[2][4]−ThecompanyoperatesfourmanufacturingfacilitiesintheUnitedStatesandemploysapproximately430people[2][4]Group2−KPSaimstoleverageitsstrategic,operational,andfinancialresourcestoaccelerateCraneComposites′growthandexpanditsproductofferings[3]−CraneCompositeshasaseventy−yearhistoryasaleaderinitsfieldandplanstoinvestinoperationalcapabilitiesunderKPS′ownership[3]−KPSCapitalPartnersmanagesapproximately227 million, with the transaction expected to close in the first quarter of 2025 [1] - Crane Composites is a leading designer and manufacturer of fiberglass reinforced plastic composite products, serving various end-markets including building products, recreational vehicles, and transportation [2][4] - The company operates four manufacturing facilities in the United States and employs approximately 430 people [2][4] Group 2 - KPS aims to leverage its strategic, operational, and financial resources to accelerate Crane Composites' growth and expand its product offerings [3] - Crane Composites has a seventy-year history as a leader in its field and plans to invest in operational capabilities under KPS' ownership [3] - KPS Capital Partners manages approximately 21.4 billion in assets and focuses on making controlling equity investments in manufacturing and industrial companies [5]