CRAWFORD UNITED Corp

crawfordunited.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2025 10-Q, filed Nov 4, 2025. Its latest SEC filing is a 15-12G from Feb 26, 2026.

The sections below describe the company as of the FY2024 annual report.

What Did They Do?

Builds and installs custom commercial air-handling systems for healthcare and education institutions, and makes hoses and engineered components for truck makers and other industrial manufacturers.

How Did They Make Money?

Customers pay for industrial and transportation products at delivery; custom air-handling systems bring in revenue as the company designs, builds and installs them over the project.

FY2024 revenue

Who Were Their Customers?

Custom air-handling systems reach healthcare, education and industrial customers through sales representatives. Truck makers, aftermarket suppliers and other manufacturers buy hoses and engineered components.

Customers above 10% of revenue, FY2024

of revenue from one customer

FY2023: 10% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 9 cents of every revenue dollar as net income in FY2024.

Operating income, FY2024

13% of revenue

▲ +10% vs FY2023 ($17.9M, 12%)

Net income, FY2024

9% of revenue

▲ +2% vs FY2023 ($13.3M, 9%)

How Were They Changing?

Since the FY2024 annual report

Latest quarter: Q3 FY2025, the three months to Sep 30, 2025

Revenue: ▲ +28%; vs $36.7M in Q3 FY2024
Net income: ▲ +60%; vs $3.4M in Q3 FY2024

Feb 6, 2026 Merger closed, giving shareholders the right to cash consideration At the effective time, shareholders' only remaining right was to receive the merger consideration.
Dec 8, 2025 Crawford United agreed to merge with SPX Enterprises The agreement valued the transaction at $300 million and expected a close as early as the first quarter of 2026.

Grew. Revenue grew 77% in 4 years, from $85.1M in FY2020 to $150.2M in FY2024, about 15% a year.

Added coatings The later description adds Heany's coatings for aerospace, industrial and biomedical uses and AIC's fluoropolymer and other coatings for aerospace, semiconductor, medical, energy and industrial applications; the older business description focuses on hoses and engineered products.

Added hose machinery The later description includes hose-reinforcement machinery for the plastic, rubber and silicone industries, expanding beyond the hoses and engineered products described in the older report.

Added pump systems The later description includes oil-change systems, fuel and oil transfer pumps, fuel primers and engine-flushing systems, products not described in the older business section.

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