1 minute read | October.27.2023
Crane Company has acquired Germany-based Baum lined piping GmbH for approximately $91 million.
Orrick advised Crane Company.
With executive offices in Stamford, Connecticut, Crane Company is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process industry end markets. Crane has approximately 7,000 employees in the Americas, Europe, the Middle East, Asia and Australia.
Baum is the market leader in Europe in the design of highly corrosion-resistant pipelines. The company employs about 200 people in Germany, China, Romania and the United States.
Max Mitchell, Crane's President and Chief Executive Officer, said the acquisition offers “substantial synergistic opportunities.”
“Baum is a perfect addition to Process Flow Technologies' chemical business, significantly expanding the geographic and product breadth of our specialized lined pipe business that serves severe service applications in highly corrosive environments,” he said in a statement.
Konstantin Heitmann and Stefan Weinheimer led the Orrick team that advised Crane Company. The team also included Johannes Niegemann, Marianna Karapetyan, Stefan Renner, Stefan Schultes-Schnitzlein, Lars Mesenbrink, Robert Weinhold, Hang Xu and Benedikt Kamann.