M&A Deal Summary

Crane Acquires MEI Conlux Holdings

On December 11, 2013, Crane acquired engineering company MEI Conlux Holdings from Bain Capital Private Equity and Advantage Partners for 804M USD

Acquisition Highlights
  • This is Crane’s 1st transaction in the Engineering sector.
  • This is Crane’s largest (disclosed) transaction.
  • This is Crane’s 15th transaction in the United States.
  • This is Crane’s 2nd transaction in Pennsylvania.

M&A Deal Summary
Date 2013-12-11
Target MEI Conlux Holdings
Sector Engineering
Buyer(s) Crane
Sellers(s) Bain Capital Private Equity
Advantage Partners
Deal Type Add-on Acquisition
Deal Value 804M USD

Target

MEI Conlux Holdings

Malvern, Pennsylvania, United States
MEI is a provider of coin recognition technology for vending machines.

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Buyer(S) 1

Buyer

Crane

Stamford, Connecticut, United States
Category Company
Founded 1855
Sector Machinery
Employees7,000
Revenue 2.1B USD (2023)
DESCRIPTION

Crane is a diversified manufacturer of highly engineered industrial products. Crane provides products and solutions to customers in the aerospace, electronics, hydrocarbon processing, petrochemical, chemical, power generation, automated merchandising, transportation and other markets. Crane was Incorporated in 1855 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 22 of 26
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 16 of 19
State (Pennsylvania) 2 of 2
Country (United States) 15 of 18
Year (2013) 1 of 1
Size (of disclosed) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-12 W. T. Armatur

Maxdorf, Germany

WTA is a manufacturer of bellows sealed globe valves, as well as certain types of specialty valves, for chemical, fertilizer and thermal oil applications.

Buy $38M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 Westlock Controls

Saddle Brook, New Jersey, United States

Westlock Controls Corp. engages in the manufacturing and sale of switchboxes, position transmitters and other solutions for networking, monitoring and controlling process valves. With primary operations located in Saddle Brook, New Jersey.

Buy -

Seller(S) 2

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.

DEAL STATS #
Overall 54 of 147
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 13 of 40
State (Pennsylvania) 3 of 7
Country (United States) 37 of 85
Year (2013) 10 of 11
Size (of disclosed) 29 of 44
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-11 Macromill

Tokyo, Japan

Macromill is a provider of internet research services. Macromill was founded in 2000 and is based in Tokyo, Japan.

Buy $501M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-19 Emcure Pharmaceuticals

Pune, India

Emcure Pharmaceuticals is a mid-sized pharmaceutical business. The company's activities include research & development, manufacturing of APIs, branded formulations and biotech products, and marketing of these products in India and international markets. Emcure Pharmaceuticals was founded in 1981 and is based in Pune, India.

Buy -
SELLER

Advantage Partners

Singapore, Japan

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 4.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Partners LLP is a Japanese private equity firm focused on investing public and private companies. Advantage targets businesses operating in the fields of distribution/retail, consumer products, manufacturing, telecommunications, IT/software and financial services. The Firm will consider a variety of transactions including corporate divestitures, acquisitions, buyouts, public to private, recapitalizations, and growth capital financings. Advantage Partners was formed in 1992 and is based in Tokyo.

DEAL STATS #
Overall 19 of 29
Sector (Engineering) 1 of 1
Type (Add-on Acquisition) 15 of 19
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2013) 4 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-01 Riraku

Osaka, Japan

Riraku offers a lower-priced alternative within the relaxation industry, offering messages of 60 minutes for JPY2,980 as opposed to the standard of JPY6,000 for 60 minutes. Combined with a high-quality service, the lower price option has attracted a wide range of customers including homemakers and professionals. Riraku was founded in 2010 and is based in Osaka, Japan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Tokyo Star Bank

Tokyo, Japan

Tokyo Star Bank is a provider of various commercial banking services to corporates and individuals in Japan. Tokyo Star Bank was founded in 2001 and is based in Tokyo, Japan.

Sell -
Mergr

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