Crane Co. acquires CashCode Co.

Date Closed

January 17, 2006

Lead Office

Toronto

On January 17, 2006, Crane Co., through its wholly-owned Canadian subsidiary, Crane Canada Co., completed the acquisition of substantially all of the assets and business of CashCode Co. Inc., a privately held company specializing in niche applications for banknote (bill) validation, cash storage and cash recycling devices for use in vending, gaming, retail, parking and transportation applications. The purchase price was approximately US$86 million  in cash.

McCarthy Tétrault LLP advised Crane Co. with  a team led by Robert Stephenson.

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