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Circor sells Instrumentation & Sampling division to Crane

Jan. 17, 2020
Acquisition builds on Crane's strategy to pursue acquisitions that strengthen its portfolio

Circor reported Dec. 30 that it's agreed to sell Circor Instrumentation & Sampling to Crane Co., which manufactures fluid-handling products. The transaction is expected to close early in 1Q20, and the complete transition will take place in the following months. Brands included in the sale include Hoke valves, Gyrolok fittings, Go regulators, CircorTech sample-conditioning products, Texas Sampling and Dopak sampling systems.

Circor reports its decision to sell its instrumentation and sampling division is consistent with its strategy to move away from upstream oil and gas markets, and reduce debt by divesting non-core product lines. For Crane, the purchase is consistent with its strategy to pursue acquisitions that strengthens and compliments its portfolio, especially with technology-differentiated products.

"In the near term, we don't anticipate changes to the organization outside of the ordinary," stated Peter Noblett, global sales director, Circor Instrumentation & Sampling. "Circor has agreed to and is committed to providing transition support to Crane to ensure seamless continuity in the marketplace during this transition. We also don't anticipate any changes regarding our regional sales and distribution channels. While we bid farewell to the strong relationships and support from Circor, we're excited about our new ownership and the energy, strength, and resources that they will bring to make Instrumentation & Sampling a flagship business."