JACKSON, TN & TULSA, OK, APRIL 13, 2018 -- Matholding Group is strengthening its market position in water control and handling solutions through the acquisition of 51 percent of the shares in U.S.‐based OCV Control Valves LLC. The group is rounding out its portfolio in hydraulic control and air valves by merging Dorot Control Valves' expertise with OCV's know‐how and experience in the U.S. and Canadian markets.
The acquisition complements Mat's offering and expands their product range to include valves for all major markets. The move also introduces new products to Mat's process‐valve portfolio for the fueling transfer and aviation markets as well as other process industries.
"This acquisition represents an important strategic step for Mat's valve business. It expands our offering for current customer segments and provides us with the platform for products in North America and other countries to increases our presence in attractive new industries and application areas," said Pau Relat, CEO of Matholding Group and Chairman of Dorot Control Valves.
OCV Control Valves is a U.S. company located in Tulsa, Okla. Privately‐owned, it was founded more than 65 years ago, and is a global leader in the control valve industry. "When we first met with the Matholding team, the things that stood out to us were their strong corporate values and their people focused company culture, which we felt closely aligned with ours. We are now one team with one goal," remarked Britt Radford, Board Member OCV.
OCV valves can be found in some capacity in nearly every country throughout the world. From water supply systems in the United States and Canada to fire protection systems in Asia and aviation fueling and terminal services in Europe and the Middle East, OCV supplies valves to a broad range of industries and markets throughout the world.
The Dorot brand is equally strong in their respective markets and the acquisition reinforces Matholding's commitment to providing water control solutions, a strong position already obtained through Dorot Control Valves, Matholding's major pillar in water control solutions. The signing of the contract took place at OCV's headquarters in the United States. "We look forward to creating new opportunities for both our team members and our customers through a more comprehensive line of products available to a broad range of markets," said Robert Tipton, President and CEO, OCV Control Valves LLC.
With sales of more than USD$12 million and approximately 60 employees, OCV will strengthen the group portfolio and broaden its area of activity into the fluid control solutions provided in the fields of aviation fueling and terminal services and fire protection.
"We are excited to bring an extended product portfolio to our customers, giving them the opportunity for even greater product offerings from a single, experienced supplier," said Blake Kelso, Sr VP Marketing and Sales, OCV Control Valves LLC. OCV's know‐how and area of expertise in their respective fields, combined with Dorot Control Valves' knowledge in waterworks and agricultural areas and its vast portfolio of hydraulic control valves and air valves, will boost Matholding's activity and positioning as a leading solution provider in fluid transportation and handling. Together, the two companies are expected to have USD$60 million in U.S. sales in 2018.
