Crawford United acquires Rahn Industries for $13M in cash

Crawford United (CRAWA) Corporation announced the purchase of Rahn Industries, Incorporated of Whittier, California and Portland, Tennessee, effective January 2, 2025. Rahn Industries is a manufacturer of HVAC coils and related coatings, serving both OEM and aftermarket customers in the healthcare, industrial, energy, and defense industries. The purchase price was approximately $13M in cash, subject to certain post-closing adjustments based on working capital, indebtedness and selling expenses. At closing, $1M of the purchase price was placed in escrow to cover any deficiency in working capital determined post-closing and secure the seller’s indemnification obligations. The acquisition is expected to add approximately $18M in annualized revenue to Crawford United and be immediately accretive to earnings.