CLEVELAND, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Crawford United Corporation (OTC: CRAWA) today announced the purchase of Heany Industries effective January 2, 2024. Founded in 1932, Heany Industries is located in Scottsville, New York.
Heany Industries offers materials engineering solutions for a variety of aerospace, industrial and bio-medical applications. The company’s engineered coatings provide a protective shield for aircraft engine components, locomotive parts, dental implants, and other applications where increasing longevity and reducing downtime is critical.
“Heany Industries is strategically important to our growing presence in the aerospace and defense market,” said Brian Powers, CEO of Crawford United. “The acquisition will expand our offerings and diversify our customer base in this growing market segment,” he added.
The acquisition is expected to add approximately $7 million in annualized revenue to Crawford United and be immediately accretive to earnings.
About Crawford United Corporation. Crawford United Corporation is a growth-oriented holding company providing specialty industrial products to diverse markets, including healthcare, education, aerospace, defense, and transportation. The company currently operates two business segments. The Commercial Air Handling Equipment segment is a leader in designing, manufacturing, and installing highly customized, large-scale commercial, institutional, and industrial air handling solutions, primarily for hospitals and universities. The Industrial & Transportation Products segment provides highly complex precision components to customers in the aerospace and defense industries, as well as a full line of branded metal, silicone, plastic, rubber, hydraulic, marine and fuel hose products. For more information, go to www.crawfordunited.com.
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