Crane Co. Agrees to Acquire Money Controls to Strengthen Its Payment Solutions Business

Crane Co. CR, announced today that it has executed a definitive agreement with CA-MC Acquisition Co. to acquire its Money Controls business located near Manchester, England. The Money Controls product line includes coin hoppers, coin acceptors and bill validators. Money Controls' 2010 sales are estimated to be approximately $62 million. The transaction is subject to antitrust review in Germany and is expected to close by mid-December. Terms of the agreement were not disclosed.