New acquisition to provide pumps, systems to global industrial markets
For a purchase price of approximately $145M, Pump Solutions Group announced it has completed the acquisition of Finder Pompe S.p.A.
OAKBROOK TERRACE, IL, Nov. 25, 2013 -- For a purchase price of approximately $145 million, Pump Solutions Group (PSG®), an operating company within Dover Corporation (NYSE: DOV) and a provider of pumps, systems and related technologies, announced on Monday, Nov. 18 that it has completed the acquisition of Finder Pompe S.p.A. ("Finder").
Headquartered in Merate, Italy, Finder specializes in the design and manufacturing of API engineered pumps and systems for the global energy market, primarily oil and gas. Finder has operations in Merate and Querceta, Italy, and Venissieux, France, as well as a network of representation in more than 75 countries around the world.
Finder is an attractive acquisition for Dover's Pump Solutions Group due to its API centrifugal, plunger and twin screw pump technologies serving the energy market. Finder is a strong synergistic fit for PSG, which has built its presence in the upstream, midstream and downstream oil & gas market through Blackmer® pumps, Maag Industrial Pumps and its recent Ebsray acquisition.
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, Ill., Dover employs 35,000 people worldwide. For more information, visit www.psgdover.com.
A part of Dover's Engineered Systems segment, Pump Solutions Group (PSG) is a global leader in pumps, systems and related technologies. Its global brands include Abaque, Almatec, Automatik, Blackmer, Ebsray, Finder, Fluid Dynamics, Griswold, Maag, Maag Industrial Pumps, Mouvex, Neptune, Quattroflow, and Wilden. For more information, visit www.psgdover.com.
About Finder S.p.A
Finder S.p.A. is a leading provider of engineered pumps, spare parts and related services for critical applications in oil & gas, power generation and general industrial processes. Its centrifugal pumps, twin screw pumps and plunger pumps are sold worldwide to the fields of oil & gas, nuclear energy, desalination, chemical, pharmaceutical and food. For more information, visit www.finderpumps.com.