Crane NXT to acquire stake in Antares Vision for EUR 5.00 per share

Crane NXT (CXT) announced it has signed definitive agreements to acquire a stake in Antares Vision with the intent to take the company private. Under the terms of the agreements, Crane NXT will acquire an approximate 30% stake in Antares Vision from Regolo and Sargas at a price of EUR 5.00 per share for a total consideration of approximately EUR 120 million. After closing on the acquisition of the approximate 30% stake, pursuant to applicable Italian takeover rules, Crane NXT will launch a mandatory tender offer in Italy for the remaining publicly traded shares of Antares Vision at the same price of EUR 5.00 per share. Total enterprise value for 100% of the equity capital and current net debt of Antares Vision is approximately EUR 445M. Upon completion of the mandatory tender offer Crane NXT will implement steps aimed at delisting Antares Vision and will acquire the remaining stake owned by Regolo. As a result of the transaction, Antares Vision will become a subsidiary of Crane NXT. The overall transaction is expected to close in the first half of 2026, subject to customary closing conditions and regulatory approvals. Antares Vision generated approximately EUR 200M in revenue in the fiscal year ended December 31, 2024, with an adjusted EBITDA margin of approximately 15%. Crane NXT expects the acquisition to be accretive to adjusted EPS in the first full year and to achieve double digit ROIC by year five, driven by the growth outlook of Antares Vision as well as transaction synergies.