Crane to Complete Buy of PE-Backed MEI by Selling Toronto’s CashCode – Reuters

U.S. manufacturer Crane Co. can proceed with its US$820 million purchase of MEI Group, a Bain Capital and Advantage Partners portfolio company, now that the company has agreed to sell Canadian and German subsidiary assets, reports Reuters. European regulators approved the deal on the condition that CashCode, a Toronto-based company focused on bill validation and recycling devices, and Germany’s National Rejectors are divested to ease competition concerns. CashCode was acquired by Crane for US$86 million in 2006. The MEI acquisition was announced in December 2012.

For more information about CashCode, please visit the website of Crane Co.

Photo courtesy of Shutterstock.