m_and_a
confidence high
sentiment positive
materiality 0.85
Crane NXT to acquire Antares Vision for ~€120M stake, total EV ~€445M; expects H1 2026 close
Crane NXT, Co.
- Acquires ~30% stake in Antares Vision from Regolo and Sargas at €5.00/share for ~€120M.
- Mandatory tender offer for remaining shares at same price; total EV ~€445M including net debt.
- Antares Vision FY2024 revenue ~€200M, adj EBITDA margin ~15%; accretion to Adj EPS expected in first full year.
- Plans to delist Antares Vision; transaction expands CXT's portfolio into Life Sciences and Food & Beverage.
- Bridge facility of $602M and backstop facility of $831M from Goldman Sachs to finance the acquisition.
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