DOVER COMPLETES ACQUISITION OF FINDER
Downers Grove, IL, November 4, 2013 - Dover (DOV) announced today that it has completed the previously announced acquisition of Finder Pompe S.p.A. ("Finder") for a purchase price of approximately $145 million, subject to normal post-closing adjustments. Finder will become part of Dover`s Pump Solutions Group ("PSG") within the Fluid Solutions platform of its Engineered Systems segment.
Dover is a diversified global manufacturer with annual revenues of over $8 billion. For over 50 years, Dover has been delivering outstanding products and services that reflect its market leadership and commitment to operational and technical excellence. The Company`s entrepreneurial business model encourages, promotes and fosters deep customer engagement which has led to Dover`s well-established and valued reputation for providing superior customer service and industry-leading product innovation. Dover focuses on innovative equipment and components, specialty systems and support services through its four major operating segments: Communication Technologies, Energy, Engineered Systems and Printing & Identification. Headquartered in Downers Grove, Illinois, Dover employs 35,000 people worldwide. Dover Corporation is traded on the New York Stock Exchange under "DOV." Additional information is available on the company`s website at www.dovercorporation.com.
A part of Dover`s Engineered Systems segment, Pump Solutions Group (PSG®) is a global leader in pumps, systems and related technologies. PSG`s portfolio of premium pump and other technologies service a broad array of industrial applications and includes global brands Abaque®, Almatec®, Automatik(TM), Blackmer®, Ebsray®, Finder, Fluid Dynamics(TM), Griswold(TM), Maag, Maag Industrial Pumps, Mouvex®, Neptune(TM), Quattroflow(TM), and Wilden®, all of which deliver value added pumps and systems that serve customers requiring safe and efficient transfer of critical and valuable materials. PSG features world-class facilities in the U.S., France, Germany, Italy, Switzerland, India, China, and Australia. Additional information is available on the company`s website at www.psgdover.com.
Finder is a leading provider of engineered pumps, spare parts and related services for critical applications in oil & gas, power generation and general industrial processes. Approximately 80% of Finder`s revenue is generated from products manufactured to the exacting standards of the American Petroleum Institute ("API"). The main products - centrifugal pumps, twin screw pumps and plunger pumps - are sold worldwide to the major engineering companies and to end users which have a leading position in the fields of oil & gas, nuclear energy, desalination, chemical, pharmaceutical and food. Additional information is available on the company`s website at www.finderpumps.com.
Vice President - Investor Relations
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Source: Dover Corporation via Thomson Reuters ONE