Crane Co., a Stamford-based engineered industrial products maker, has finalized its $1.06 billion purchase of sensor-based technology company Precision Sensors & Instrumentation (PSI).
Crane announced in June that it signed an agreement to buy the Milford-based company from Baker Hughes, a Houston-based energy technology company.
PSI is made up of several subsidiaries: Druck, which makes pressure measurement and calibration instruments; Reuter-Stokes, a maker of harsh environment sensors for power generation; and Panametrics, which produces moisture, oxygen, gas and hydrogen sensors.
PSI is expected to generate 2025 sales of about $390 million, Crane said in June. Crane said it will incorporate Druck into its aerospace and electronics segment, and Reuters-Stokes will join its process flow technologies business to double the size of Crane’s nuclear segment. The Panametrics business will add ultrasonic flow meter and precision moisture analysis technologies to Crane’s business.
Crane, which funded the acquisition through cash and debt, said it will provide comments about the acquisition in its upcoming fourth quarter fiscal year 2025 earnings call on Jan. 26.
