Crane Company agreed to acquire Baum Lined Piping Gmbh from Markus Baum for $91 million on September 29, 2023. Konstantin Heitmann, Stefan Weinheimer, Stefan Renner, Stefan Schultes-Schnitzlein, Lars Mesenbrink and Hang Xu of Orrick acted as legal advisor to the Crane Company. Crane Company borrowed $100 million under its existing revolving credit facility to complete the transaction. Claus-Peter Fabian, Volker Zerr, Sandra Scheib, Martin Mohr, Michael Kraus, Oliver Simon, Michael Rein, Ulrike Glück, Kevin Wang and Gilbert Shen of CMS acted as legal advisors to sole shareholder and managing partner of Baum lined piping GmbH. Ryan Bray of Shearman & Sterling LLP acted as legal counsel to BAUM lined piping GmbH. Burkhard Weber and Ulrich Keesen of IMAP M&A Consultants AG acted as financial advisor to Markus Baum shareholder of BAUM lined piping GmbH.

Crane Company completed the acquisition of Baum Lined Piping Gmbh from Markus Baum for $93.5 million on October 4, 2023. Crane Company completed the acquisition for $93.5 million on a cash-free and debt-free basis, with $90.5 million paid in 2023 and $3.0 million to be paid in 2024, related to the final working capital adjustment.