CRAWFORD UNITED ACQUIRES RAHN INDUSTRIES
Crawford United (OTC: CRAWA) has announced the acquisition of Rahn Industries, a leading manufacturer of HVAC coils and related coatings, for approximately $13 million in cash, effective January 2, 2025. The deal includes operations in Whittier, California and Portland, Tennessee.
The transaction includes a $1 million escrow for working capital adjustments and seller's indemnification obligations. Rahn Industries serves OEM and aftermarket customers in healthcare, industrial, energy, and defense sectors. The acquisition is expected to generate approximately $18 million in annualized revenue and be immediately accretive to earnings.
This strategic acquisition secures a critical supply chain component for Crawford United's Commercial Air Handling segment, as HVAC coils represent the largest expenditure for their Air Enterprises business.
Crawford United (OTC: CRAWA) ha annunciato l'acquisizione di Rahn Industries, un importante produttore di bobine HVAC e rivestimenti correlati, per circa 13 milioni di dollari in contanti, a partire dal 2 gennaio 2025. L'affare include le operazioni a Whittier, California e Portland, Tennessee.
La transazione prevede un escrow di 1 milione di dollari per le regolazioni del capitale circolante e le obbligazioni di indennizzo del venditore. Rahn Industries serve clienti OEM e del mercato secondario nei settori sanitario, industriale, energetico e della difesa. Si prevede che l'acquisizione genererà circa 18 milioni di dollari di ricavi annualizzati e sarà immediatamente accrescitiva per gli utili.
Questa acquisizione strategica assicura un componente critico della catena di fornitura per il segmento Commercial Air Handling di Crawford United, poiché le bobine HVAC rappresentano la spesa più consistente per la loro attività Air Enterprises.
Crawford United (OTC: CRAWA) ha anunciado la adquisición de Rahn Industries, un fabricante líder de bobinas HVAC y revestimientos relacionados, por aproximadamente 13 millones de dólares en efectivo, con efecto a partir del 2 de enero de 2025. El acuerdo incluye operaciones en Whittier, California y Portland, Tennessee.
La transacción incluye un escrow de 1 millón de dólares para ajustes de capital de trabajo y obligaciones de indemnización del vendedor. Rahn Industries atiende a clientes OEM y del mercado secundario en los sectores de salud, industrial, energético y de defensa. Se espera que la adquisición genere aproximadamente 18 millones de dólares en ingresos anualizados y sea inmediatamente accretiva para las ganancias.
Esta adquisición estratégica asegura un componente crítico de la cadena de suministro para el segmento de manejo de aire comercial de Crawford United, ya que las bobinas HVAC representan el mayor gasto para su negocio de Air Enterprises.
크로포드 유나이티드 (OTC: CRAWA)가 란 인더스트리를 약 1300 만 달러에 현금으로 인수하기로 발표했습니다. 이 거래는 2025년 1월 2일부터 효력이 발생하며, 캘리포니아 주 휘티어와 테네시 주 포틀랜드의 운영이 포함됩니다.
거래에는 자본금 조정 및 판매자의 면책 의무를 위한 100 만 달러의 에스크로가 포함됩니다. 란 인더스트리는 헬스케어, 산업, 에너지 및 방위 분야의 OEM 및 애프터마켓 고객을 대상으로 서비스를 제공합니다. 이 인수는 약 1800 만 달러의 연간 수익을 창출할 것으로 예상되며, 즉시 수익을 증가시킬 것입니다.
이 전략적 인수는 크로포드 유나이티드의 상업 공기 처리 세그먼트를 위한 중요한 공급망 구성 요소를 확보하며, HVAC 코일은 Air Enterprises 비즈니스의 가장 큰 지출 항목을 나타냅니다.
Crawford United (OTC: CRAWA) a annoncé l'acquisition de Rahn Industries, un fabricant leader de bobines HVAC et de revêtements connexes, pour environ 13 millions de dollars en espèces, à compter du 2 janvier 2025. L'accord comprend des opérations à Whittier, Californie et Portland, Tennessee.
La transaction comprend un escrow de 1 million de dollars pour les ajustements du fonds de roulement et les obligations d'indemnisation du vendeur. Rahn Industries sert des clients OEM et du marché secondaire dans les secteurs de la santé, de l'industrie, de l'énergie et de la défense. L'acquisition devrait générer environ 18 millions de dollars de revenus annualisés et être immédiatement bénéfique pour les bénéfices.
Cette acquisition stratégique sécurise un composant critique de la chaîne d'approvisionnement pour le segment de gestion de l'air commercial de Crawford United, les bobines HVAC représentant la plus grande dépense pour leur activité Air Enterprises.
Crawford United (OTC: CRAWA) hat die Übernahme von Rahn Industries, einem führenden Hersteller von HVAC-Spulen und verwandten Beschichtungen, für etwa 13 Millionen Dollar in bar bekannt gegeben, die am 2. Januar 2025 wirksam wird. Der Deal umfasst Betriebe in Whittier, Kalifornien und Portland, Tennessee.
Die Transaktion beinhaltet ein Escrow von 1 Million Dollar für Anpassungen des Betriebskapitals und die Indemnifizierungspflichten des Verkäufers. Rahn Industries bedienen OEM- und Aftermarket-Kunden in den Bereichen Gesundheitswesen, Industrie, Energie und Verteidigung. Es wird erwartet, dass die Übernahme rund 18 Millionen Dollar an jährlichen Einnahmen generieren wird und sofort gewinnsteigernd ist.
Diese strategische Übernahme sichert eine kritische Komponente der Lieferkette für den Versicherungsbereich von Crawford United, da HVAC-Spulen die größten Ausgaben für ihr Geschäft mit Air Enterprises darstellen.
- Expected to add $18 million in annualized revenue
- Immediately accretive to earnings
- Secures control of important supply chain component
- Vertical integration in Commercial Air Handling segment
- Diversified customer base across multiple sectors
- Significant cash outlay of $13 million
- $1 million held in escrow subject to adjustments
CLEVELAND, Ohio, Jan. 07, 2025 (GLOBE NEWSWIRE) -- Crawford United Corporation (OTC: CRAWA) today announced the purchase of Rahn Industries, Incorporated of Whittier, California and Portland, Tennessee, effective January 2, 2025. Rahn Industries is a leading manufacturer of HVAC coils and related coatings, serving both OEM and aftermarket customers in the healthcare, industrial, energy, and defense industries. The purchase price was approximately
“Rahn Industries is strategically important to our Commercial Air Handling segment,” said Brian Powers, CEO of Crawford United. “HVAC coils are the single largest expenditure of our rapidly expanding Air Enterprises business. This acquisition allows us to secure a vital component of our supply chain for the long term,” he added.
The acquisition is expected to add approximately
About Crawford United Corporation. Crawford United Corporation is a growth-oriented holding company providing specialty industrial products to diverse markets, including healthcare, education, aerospace, defense, and transportation. The company currently operates two business segments. The Commercial Air Handling Equipment segment is a leader in designing, manufacturing, and installing highly customized, large-scale commercial, institutional, and industrial air handling solutions, primarily for hospitals and universities. The Industrial & Transportation Products segment provides highly complex precision components and coatings to customers in the aerospace and defense industries, as well as a full line of branded metal, silicone, plastic, rubber, hydraulic, marine and fuel hose products. For more information, go to www.crawfordunited.com.
Information about Forward Looking Statements. This press release contains forward-looking statements within the meaning of the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements made regarding the company’s future results. Generally, these statements can be identified by the use of words such as “guidance,” “outlook,” “believes,” “estimates,” “anticipates,” “expects,” “forecasts,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” “should,” “could,” “would” and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements, or other statements made by the Company, are made based on management's expectations and beliefs concerning future events impacting the Company, such as the integration of Rahn Industries and the acquisition’s expected impact on the Company’s revenue and earnings, and are subject to uncertainties and factors (including, but not limited to, those specified below) which are difficult to predict and, in many instances, are beyond the control of the Company. As a result, actual results of the Company could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) shortages in supply or increased costs of necessary products, components or raw materials from the Company’s suppliers; (b) availability shortages or increased costs of freight and labor for the Company and/or its suppliers; (c) actions that governments, businesses and individuals take in response to public health crises, such as the COVID-19 pandemic, including mandatory business closures and restrictions on onsite commercial interactions; (d) conditions in the global and regional economies and economic activity, including slow economic growth or recession, inflation, currency and credit market volatility, reduced capital expenditures and changes in government trade, fiscal, tax and monetary policies; (e) adverse effects from evolving geopolitical conditions, such as the military conflicts in Ukraine and the Middle East; (f) the Company's ability to effectively integrate acquisitions, and manage the larger operations of the combined businesses, (g) the Company's dependence upon a limited number of customers and the aerospace industry, (h) the highly competitive industries in which the Company operates, which includes several competitors with greater financial resources and larger sales organizations, (i) the Company's ability to capitalize on market opportunities in certain sectors, (j) the Company's ability to obtain cost effective financing and (k) the Company's ability to satisfy obligations under its financing arrangements, as well as the risks described from time to time in the Company’s reports as filed with the Securities and Exchange Commission. Further information on potential factors that could affect the financial results of the Company and its forward-looking statements is included in its most recent Form 10-K and subsequent filings with the Securities and Exchange Commission. The Company assumes no obligation to update any forward-looking statement, except as may be required by law. These forward-looking statements speak only as of the date of this release. All forward-looking statements are qualified in their entirety by this cautionary statement.
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