Stamford-based industrial products manufacturer Crane Co. has named a new CEO and announced the acquisition of a German sensor company.
The company said Tuesday that Chief Operating Officer Alex Alcala will become CEO effective at its annual shareholder meeting on April 27. Alcala will also join Crane’s board of directors at that time.
He will succeed Max Mitchell, who has led Crane since 2014 and will remain executive chairman.
Crane, which is headquartered at 100 First Stamford Place, makes industrial equipment and components used to move fluids, monitor processes and operate machinery in sectors such as energy, chemicals, aerospace, defense and manufacturing.
The company announced the leadership transition as part of its fourth-quarter and full-year earnings report.
Alcala joined Crane in 2013 as president of its pumps and systems unit and was later promoted to lead the ChemPharma & Energy business. In 2020, he became senior vice president of the company’s Process Flow Technologies segment, while also overseeing regional presidents in China, India and the Middle East.
He was named executive vice president in February 2023, taking responsibility for both of Crane’s business segments, and was promoted to COO in 2024.
The company also disclosed it acquired Germany-based optek-Danulat, which manufactures inline process control sensors used to measure liquid properties, detect objects and monitor color changes in industrial systems.
Financial terms of the deal were not disclosed, but Crane said the newly acquired business generated about $40 million in sales in 2025 and adds to its optical process control capabilities.
On Jan. 1, Crane closed its previously announced $1.06 billion purchase of the Druck, Panametrics and Reuter-Stokes businesses — together known as Precision Sensors & Instrumentation (PSI) — from Baker Hughes. The businesses make sensors that measure pressure, flow, moisture and radiation and are used in aerospace, defense, nuclear and industrial applications.
For the fourth quarter, Crane reported $581 million in sales, up 6.8% from the year-ago period, and net income attributable to common shareholders of $81.7 million, or $1.39 per share, up slightly from $81 million, or $1.20 per share, a year earlier.
Full-year net income attributable to common shareholders totaled $366.6 million, compared with $294.7 million in 2024.
