K&L Gates Advises Crane Company in US$1.06 Billion Acquisition of Precision Sensors & Instrumentation

Global law firm K&L Gates LLP has advised Crane Company, a diversified manufacturer of engineered industrial products, in its acquisition of Precision Sensors & Instrumentation (PSI), a leading provider of sensor-based technologies for aerospace, nuclear, and process industries.

The deal between Crane and PSI, which is valued at US$1.06 billion after adjusting for tax benefits, is contingent upon regulatory approvals and customary closing conditions. Crane Company intends to finance the acquisition with a combination of cash on hand and additional debt. The acquisition is currently expected to close at the end of 2025 or early 2026.

The deal team was led by New York partner Calvina Bostick with M&A assistance from New York associates Steven Shur and Erica Chan. New York partners Chris Carson, Amy Ironmonger, and Adam Tejeda, Raleigh partner Leann Walsh, San Francisco partner Rikki Sapolich-Krol, Washington, D.C., partner Vishal Mehta, Brussels partner Francesco Carloni, Brussels counsel Michael Hofmann, Brussels senior associate Petr Bartoš, Brussels associate Covadonga Corell Pérez de Rada, London special counsel Christopher Swallow, and Seattle associate Henry Brockway provided counsel on the matter. Several other firm lawyers across the globe, including those based in the US, France, China, Japan, Germany, and the United Kingdom also contributed.

K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.