"Cravath Facilitates $1.8 Billion Credit Facilities for Crane Company's Acquisition of Precision Sensors & Instrumentation"

"Cravath represented the administrative agent and joint lead arranger in securing $1.8 billion in credit facilities for Crane Company, facilitating its acquisition of the Precision Sensors & Instrumentation product line from Baker Hughes. The financing included a $900 million term loan and a $900 million revolving credit facility, closing on September 30, 2025. The Cravath team involved various partners and associates across banking, tax, environmental, and executive compensation matters."

Cravath represented the administrative agent, joint lead arranger, and joint bookrunner in connection with a significant financing transaction involving Crane Company and its acquisition of the Precision Sensors & Instrumentation (PSI) product line from Baker Hughes. The transaction involved $1.8 billion in credit facilities, which included a $900 million term loan facility and a $900 million revolving credit facility. This financing was essential for Crane Company, a leading industrial manufacturing and technology firm, as it pursued the acquisition of PSI from Baker Hughes, a prominent energy technology company. The Cravath team included partner Tatiana Lapushchik and associates Ceara Marie Burns and Jasmine Hakimian, who worked on banking matters; partner Arvind Ravichandran and associates Frederick Schemel and Ruth Goldstein Schapiro, who focused on tax matters; partner Matthew Morreale, who handled environmental matters; and associate S. Celine Li, who addressed executive compensation and benefits matters. Additionally, Pierson R. Broadwater contributed to the banking matters. The transaction closed on September 30, 2025.

"Cravath Facilitates $1.8 Billion Credit Facilities for Crane Company's Acquisition of Precision Sensors & Instrumentation"

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