Baker Hughes Company announced Monday it has reached an agreement to sell its Precision Sensors & Instrumentation product line to Crane Company for approximately $1.15 billion in cash.
The transaction involves the sale of PSI, which operates as part of Baker Hughes’ Industrial & Energy Technology segment. The business encompasses well-known brands including Druck, Panametrics, and Reuter-Stokes, which manufacture instrumentation and sensor-based technologies for detecting and analysing pressure, flow, gas, moisture, and radiation across multiple industries.
PSI employs approximately 1,600 people globally across various manufacturing and service facilities. The sale includes all business assets, encompassing intellectual property, physical footprint, and human resources.
The divestiture represents the latest move in Baker Hughes’ strategic portfolio management initiative, following the recently announced Surface Pressure Control transaction. The company has emphasised its focus on value-creating asset optimisation to enhance earnings durability and cash flow generation while enabling capital reallocation toward higher-return opportunities.
“This transaction continues the progress we have made in enhancing our strategic focus on IET’s core competencies of rotating equipment, asset performance management, flow control, and decarbonisation to continue to drive higher returns, reinforcing our commitment to long-term value for our shareholders,” said Lorenzo Simonelli, Baker Hughes chairman and CEO.
Simonelli noted that the transaction value reflects the quality of the divested product lines and their growth potential under new ownership. “We believe the value realised in this transaction is a testimony to these product lines’ quality and the potential they can achieve as part of Crane,” he added.
Crane Company, the acquiring entity, operates as a leading manufacturer of highly engineered components for mission-critical applications. The company serves demanding end markets including aerospace, defense, space, and process industries, making the PSI acquisition a strategic fit for its existing portfolio.
The acquisition is expected to strengthen Crane’s position in instrumentation and sensor technologies while providing Baker Hughes with capital to focus on its core competencies. For Baker Hughes, the transaction aligns with its strategic emphasis on rotating equipment, asset performance management, flow control, and decarbonisation technologies.
The deal remains subject to customary closing conditions, including regulatory approvals. Both companies expect the transaction to close by the end of 2025 or early 2026.
Evercore is serving as financial adviser to Baker Hughes for the transaction.
The announcement comes as energy technology companies continue to optimise their portfolios amid evolving market dynamics and increasing focus on energy transition technologies. Baker Hughes’ strategic repositioning reflects broader industry trends toward specialisation and capital efficiency in the energy services sector.
For more information visit www.bakerhughes.com
