Crawford United Corp. (CRAWA) has acquired the operating assets of Florida-based Emergency Hydraulics. The acquisition is expected to contribute annualized revenue of $2 million to Crawford and be immediately accretive to earnings.
Crawford, a holding company, provides specialty industrial products to markets like healthcare, education, and defense. Emergency Hydraulics provides hydraulic hoses, air tank assemblies, and associated products to firefighting truck and other emergency vehicle manufacturers.
Crawford CEO Brian Powers said, “Emergency Hydraulics is strategically important to our growing industrial hose platform. The acquisition will expand our offerings and diversify our customer base in this important market segment.” (See Crawford United stock chart on TipRanks)
Recently, B. Riley Financial analyst Sarkis Sherbetchyan reiterated a Buy rating on the stock and increased the price target to $35 (17.8% upside potential) from $32.
Reacting to Crawford’s better-than-estimated Q1 performance, Sherbetchyan said that higher revenue from the industrial and transportation segment more than made up for the lower revenue from the commercial air handling division.
Shares have surged 89% over the past year.
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