Industrial manufacturing and technology company Crane Company has acquired Technifab for $40.5m in a move that extends the company’s cryogenic capabilities in high-growth semiconductor, medical, and pharmaceutical end markets.
Based in Indiana, Technifab provides vacuum-insulated pipe systems and valves for cryogenic applications. Now acquired, the company will become part of Crane’s Process Flow Technologies (PFT) business segment.
In addition to growing Crane’s PFT business, the purchase also expands its geographical footprint.
Max Mitchell, Chairman of the Board, President, and CEO of Crane Company, added that Technifab’s expertise and capability in manufacturing vacuum-insulated pipe systems will greatly enhance our ability to provide a broader suite of solutions across highly attractive end markets.
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