Every deal, price, and strategic rationale.
Plotted by close date where disclosed, otherwise announcement. Click any marker to jump to the deal entry.
Three patterns show up across Dover's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the individual deals below are the evidence.
Dover compounds through a steady stream of mostly sub-$100M acquisitions that complement and expand existing operations within its Pumps & Process Solutions, Clean Energy & Fueling, Imaging & Identification, Engineered Products and Climate & Sustainability Technologies segments. Each deal is folded into an existing platform rather than run as a standalone unit, which is why most show up only in the 10-K acquisition notes rather than dedicated 8-Ks.
Periodically Dover writes a larger check to anchor or scale a platform: Wayne Fueling ($792M) and Tokheim ($449M) built the retail fueling franchise; RegO ($627M), Acme Cryogenics ($292M) and a string of cryo tuck-ins built a cryogenic-gas components platform; FW Murphy ($526M) and MEC ($396M) deepened gas-handling and compression controls. These larger deals set the direction that the subsequent tuck-ins extend.
A recurring thread is acquiring software and digital capability to layer onto the hardware franchises: Systech, Blue Bite and Solaris in product traceability and brand protection; Bulloch, AvaLAN, ICS and Site IQ in retail-fueling payments, controls and IoT monitoring; CDS Visual in 3D industrial visualization. The pattern shifts Dover toward higher-margin, recurring digital revenue around its installed base.
44 acquisitions. Click any row to see the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.
Sikora AG is a provider of precision measurement, inspection and control solutions for production processes in the wires and cables, hoses, optical fibers and plastic industries. Dover acquired 99.8 percent of the equity interest, net of cash acquired.
Cryogenic Machinery Corp. (Cryo-Mach) is a provider of cryogenic centrifugal pumps, mechanical seals and accessories. Total consideration of $28.9 million, net of cash acquired.
ipp Pump Products GmbH is a specialized manufacturer of sanitary pump technologies, including hygienic lobe, progressive cavity and other processing equipment.
Site IQ LLC (SIQ) is an industrial internet-of-things company focused on remote monitoring of fueling sites. Total consideration of $11.4 million, net of cash acquired and inclusive of contingent consideration.
The Marshall Excelsior Company (MEC) is a supplier of highly-engineered flow control components for transportation, storage and use in liquefied petroleum gas and other industrial gases. Acquired 100 percent of the equity interests for $395.8 million, net of cash acquired.
Bulloch Technologies, Inc. is a provider of point-of-sale (POS), forecourt controller and electronic payment server solutions to the convenience retail industry. Acquired 100 percent of the equity interests for $121.9 million, net of cash acquired and inclusive of contingent consideration.
The Transchem Group is a supplier of car wash chemicals and associated solutions. Acquired 100 percent of the equity interests for $48.2 million, net of cash acquired and inclusive of contingent consideration.
Demaco Holland B.V. is a provider of critical flow control components for cryogenic applications used in a wide range of end markets. Acquired 100 percent of the equity interests for $42.6 million, net of cash acquired and inclusive of contingent consideration.
Dover acquired certain assets from Carter Day International, Inc.'s petrochemical division for $34.0 million, inclusive of contingent consideration. The assets expand the Company's pelletizing-system portfolio of dewatering and drying equipment.
Criteria Labs, Inc. is a provider of radio frequency devices and microelectronic engineering solutions tailored for high-reliability applications. Acquired 100 percent of the equity interest for $14.7 million, net of cash acquired and inclusive of contingent consideration.
SPS Cryogenics B.V. and Special Gas Systems B.V. (SPS Cryogenics) is a designer, manufacturer and supplier of vacuum-insulated piping systems for a wide variety of liquefied gases. Acquired 100 percent of the equity interest for $11.1 million, net of cash acquired.
The FW Murphy Production Controls business is a provider of control and optimization solutions for the reciprocating compression industry. Acquired 100 percent of the assets and assumed certain liabilities for $526.5 million. Strengthens Dover's position in compression technologies.
The Arc Pacific group is a global supplier of can washers, dry-off, pin and internal bake ovens for the metal packaging industry. Acquired 100 percent of the equity interest for $8.8 million, net of cash acquired and inclusive of contingent consideration.
Malema Engineering Corporation and its related foreign entities (Malema) is a designer and manufacturer of flow measurement and control instruments serving customers in the biopharmaceutical, semiconductor and industrial sectors. Acquired 99.7 percent of the equity interests for $223.5 million, net of cash acquired.
Witte Pumps & Technology GmbH (Witte) is a manufacturer of precision gear pumps. Acquired 100 percent of the equity interests for $77.9 million, net of cash acquired. Expands Dover's reach into gear pump manufacturing and associated spare parts and services for the chemical, plastics and polymer processing industries.
AMN DPI (AMN) is a designer and manufacturer of polymer pelletizing tools. Acquired 100 percent of the equity interests for $8.1 million, net of cash acquired. Extends the Company's reach into polymer processing equipment production.
ECI Holding Company, LLC (RegO) is a provider of highly-engineered components and services that facilitate the production, storage and distribution of cryogenic gases. Acquired 100 percent of the voting stock for $626.6 million, net of cash acquired.
Acme Cryo Intermediate Inc. (Acme Cryogenics) is a provider of highly-engineered components and services that facilitate the production, storage and distribution of cryogenic gases. Acquired 100 percent of the voting stock for $292.3 million, net of cash acquired.
The Espy Corporation (Espy) is a manufacturer of advanced electronic radio frequency sensor systems. Acquired 100 percent of the voting stock for $60.5 million, net of cash acquired. Strengthens the Company's offering of complete signal intelligence systems with integrated software.
AvaLAN Wireless Systems Incorporated (AvaLAN) is a provider of secure wireless communications solutions for the convenience and fuel retail industry. Acquired 100 percent of the voting stock for $34.1 million, net of cash acquired.
Blue Bite LLC (Blue Bite) is a provider of consumer engagement and brand protection software solutions. Acquired 100 percent of the voting stock for $30.1 million, net of cash acquired and including contingent consideration. Strengthens the Company's offering of product traceability and authentication solutions.
CDS Visual, Inc. (CDS Visual) is a provider of 3D visualization solutions tailored for industrial applications. Acquired 100 percent of the voting stock for $29.1 million, net of cash acquired. Extends the Company's reach of customer-facing digital capabilities.
LIQAL B.V. (LIQAL) is a turnkey supplier of LNG, hydrogen refueling equipment and solutions, and micro liquefaction solutions. Acquired 100 percent of the voting stock for $27.7 million, net of cash acquired and including contingent consideration. Strengthens the Company's offering of LNG and hydrogen products.
Quantex Arc Limited (Quantex) is a provider of single-use, recyclable pumps. Acquired 100 percent of the voting stock for $23.7 million, net of cash acquired and including contingent consideration. Enhances the offering of single-use pumps for biopharma and other hygienic applications.
Sys-Tech Solutions, Inc. (Systech) is a provider of product traceability, regulatory compliance and brand-protection software and solutions to pharmaceutical and consumer products manufacturers. Acquired 100 percent of the voting stock for $161.8 million, net of cash acquired.
So. Cal. Soft-Pak, Incorporated (Soft-Pak) is a specialized provider of integrated back office, route management and customer relationship management software solutions to the waste and recycling fleet industry. Acquired 100 percent of the voting stock for $45.5 million, net of cash acquired.
Em-tec GmbH (Em-tec) is a designer and manufacturer of flow measurement devices serving a wide array of medical and biopharmaceutical applications. Acquired 100 percent of the voting stock for $30.4 million, net of cash acquired. Expands the Company's reach into biopharma and other hygienic applications.
Solaris Laser S.A. (Solaris) is a global manufacturer of product identification and traceability solutions. Acquired 100 percent of the voting stock for $18.7 million, net of cash acquired. Enhances the segment's growing laser technology product line.
Innovative Control Systems, Inc. (ICS) is a provider of car wash controllers, payment terminals, point-of-sale and wash site management software solutions. Acquired 100 percent of the voting stock for $77.0 million, net of cash acquired. Enhances the segment's participation in the car wash market.
Belanger, Inc. (Belanger) is a full-line car wash equipment manufacturer. Acquired the assets for $175.4 million, net of cash acquired. Strengthens Dover's position in the vehicle wash business.
The All-Flo Pump Company, Limited business (All-Flo) is a growing manufacturer of specialty pumps. Acquired the assets for total consideration of $40.0 million. Strengthens Dover's position in the growing market for air-operated double-diaphragm pumps.
Ettlinger Group (Ettlinger) was acquired for $53.2 million, net of cash acquired, within the Pumps & Process Solutions segment (polymer processing / melt filtration).
Rosario Handel B.V. (Rosario) was acquired for total consideration of $15.3 million, net of cash acquired, within the Refrigeration & Food Equipment segment.
Caldera Graphics S.A.S. (Caldera) was acquired for $32.9 million, net of cash acquired and including contingent consideration. Caldera provides RIP and workflow software for large-format digital printing.
Wayne Fueling Systems Ltd. is a provider of fuel dispensing, payment systems and monitoring and optimization software. Acquired for approximately $792.2 million, net of cash acquired.
The dispenser and systems businesses of Tokheim Group S.A.S. (Tokheim) were acquired for a purchase price of approximately EUR 411.3 million, or $448.7 million. Integrated within the Fluids segment to provide a comprehensive fuel dispensing offering.
Accelerated Companies is an integrated provider of equipment, parts and services for handling fluids associated with oil and gas production and processing. Acquired for approximately $435.7 million.
Anthony International was acquired for a total purchase price of $603.2 million, net of cash acquired, for Dover's Refrigeration & Industrial platform. Anthony is a leader in glass refrigeration display doors and lighting systems.
Production Control Services (PCS) was acquired in the second quarter of 2012 for consideration totaling $220.0 million, adding to Dover's artificial lift technology in the Energy segment. A portion was funded by Dover stock valued at $101 million.
Maag Pump Systems, a European acquisition for Dover's Fluid Solutions platform, was acquired in the first quarter of 2012 for approximately $265.8 million. Maag makes precision gear pumps and pelletizing systems for polymer processing.
The Sound Solutions business of NXP Semiconductors N.V. was acquired (announced December 22, 2010; closed July 2011) for net purchase consideration of approximately $779.3 million. By enhancing product offerings for the high-growth handset market, the acquisition expanded Dover's Communication Technologies (Knowles) microphone business.
Harbison-Fischer, Inc. is a Texas-based designer and manufacturer of down-hole rod pumps and related products. Acquired for $402.5 million, subject to normal closing adjustments.
Knowles Electronics Holdings, Inc. is a manufacturer of advanced micro-acoustic component products for the hearing aid and consumer electronics industries. Dover, through Dover Electronics, agreed to acquire all outstanding shares (announced August 2005; closed September 27, 2005). Knowles became Dover's micro-acoustics platform.
Colder Products Company is a manufacturer of quick disconnect couplings for a wide variety of biomedical and commercial applications. Acquired (asset purchase) within Dover's Electronics / Components group.
Every figure on this page was synthesized by VectorShift from SEC EDGAR filings — before an analyst would finish their first coffee. Point the same pipeline at private deal documents and the output is the same.
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