Leading global law firm, Baker McKenzie, has advised energy technology company Baker Hughes on all aspects of the USD1.15 billion sale of its Precision Sensing and Instrumentation (PSI) business to Crane Company, a diversified manufacturer of engineered industrial products.
PSI, part of Baker Hughes’ Industrial & Energy Technology (IET) segment, includes the Druck, Panametrics and Reuter-Stokes brands. These brands manufacture instrumentation and sensor-based technologies to detect and analyse pressure, flow, gas, moisture and radiation across various industries. PSI employs approximately 1,600 people across several manufacturing and service facilities globally. The sale encompasses all assets of the business, including intellectual property, footprint and resources.
The closing of the transaction is subject to customary conditions, including regulatory approvals, and is expected to close at the end of 2025 or early 2026.
Led by the Firm’s Global M&A Chair, Jannan Crozier, the cross-border Baker McKenzie team also included:
- Corporate: Partners, John Quattrocchi and Tanner Bodine (both Dallas) and Senior Associates Anthony Pisarski and Kata Szeidovitz (both London) and Santiago Corcuera (New York)
- Employment: Partner Kim Sartin and Senior Associate Katie Patrick (both London)
- Real Estate: Senior Associate Jack McCaw (London)
- Intellectual Property: Partner Jessica Greenwald (Dallas)
- Tax: Partner Lane Morgan (Dallas)
Commenting on the transaction, Jannan Crozier, said “We’re pleased to have supported Baker Hughes on this significant transaction as it looks to maximise value through strategic M&A divestments. It not only demonstrates the strength of the Firm’s global team when it comes to delivering for our clients on their complex M&A and carve-out needs across the globe, but also underscores our relationship with Baker Hughes, who we have advised on a number of previous transactions.”
Crane Company was advised by K&L Gates.