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Dover Corporation Message Board

  • hannagreene hannagreene Oct 2, 2011 7:22 PM Flag

    Crenlo & Paladin Sale

    Does anyone know how much Dover sold Crenlo and Paladin for and to whom? What did Dover pay for these companies? If I am correct, didn't they just buy Paladin?

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    • Much of the info is you want in their press release. Here are the relevant parts:

      Press Release Source: Dover Corporation On Thursday September 29, 2011, 9:00 am EDT

      DOWNERS GROVE, Ill., Sept. 29, 2011 /PRNewswire-FirstCall/ -- Dover Corporation (NYSE:DOV - News) announced today that it has completed the sale of Crenlo, LLC of Rochester, MN, a leading maker of cab equipment enclosures, and Paladin Brands of Cedar Rapids, IA, North America's largest independent manufacturer of attachment tools, to KPS Capital Partners, LP. Total proceeds from the sale are $290 million, subject to normal post-closing adjustments.

      The company anticipates recognizing a loss on the sale of approximately $0.35 per diluted share, which will be reported as part of discontinued operations in its third quarter 2011 results.

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