Pump Solutions Group (PSG®), a business unit within the Engineered Systems segment of Dover Corporation (NYSE: DOV), announced today it has signed a definitive agreement to acquire the Maag Group headquartered in Zurich, Switzerland. The acquisition includes Maag® Pump Systems, Automatik® Pelletizing Systems and Maag® Filtration Systems.
The Maag Group will operate as a business unit within PSG, seeking to provide enhanced customer value and shareholder return by leveraging the synergies of the businesses. Maag posted 2011 revenue of approximately $170 million. The transaction is subject to customary regulatory approvals, and is expected to close around the end of the first quarter of 2012. Terms of the transaction were not disclosed.
Maag is a global leader in premium external gear pump technology, pelletizing systems and engineered integrated solutions for the polymer, plastic, chemical and petrochemical industries. Maag has global operations in Switzerland, Germany, U.S., Italy, and China, as well as additional sales support offices in France, Singapore, Malaysia, Taiwan, and Brazil. The company’s product brands include:
Maag Pump Systems
- Premium external gear pump technologies, designed for conveying polymer melts, chemicals and lubricants. Maag Pump Systems complements PSG’s leading sliding vane and internal gear pump technologies for high pressure, high temperature and high viscosity applications.
Automatik Pelletizing Systems
- Leading brand name in pelletizing technology with more than 8,000 pelletizing systems installed around the world. Automatik is the only equipment provider on the market to offer production technologies and systems for all pellet shapes and sizes.
Maag Filtration Systems
- Supplies the equipment needed for filtration in all areas of plastics manufacturing and processing. The filtration stage is a key aspect of the production and processing of plastics in which the filter separates out contamination from the liquid plastic melt.
Dean Douglas, President of Dover’s Pump Solutions Group, said, “We believe that the addition of the Maag Group deepens our leadership bench while vastly expanding PSG’s product portfolio within our core markets of Chemicals and Petrochemicals.” Douglas also added, “We feel that the strength of the Maag brand can be leveraged by PSG in the markets and applications in which we both serve.”
Gary Lent, VP of Corporate Development for PSG, added, “The Maag acquisition is consistent with PSG’s M&A strategic vision of acquiring premium brand positive displacement pump and related technologies. We will continue to explore opportunities that enhance the value to PSG’s customer base.”
Ueli Thuerig, CEO of Maag Group noted, “Everyone at Maag is extremely excited about this new chapter in our company’s history. We have built a strong company through the years, and combining our expertise with PSG’s global brands and market reach will be a welcome addition for our customers and suppliers. At Maag we look forward to the future benefits and synergies that this acquisition will bring.”
PSG was formed to deliver cohesion, synergies and relevant value to customers with superior products, world-class operations, and a commitment to the fluid transfer space. PSG welcomes Maag Group to a family portfolio of premium pump and system technologies that service a broad array of quality industrial applications and includes global brands Almatec®, Blackmer®, EnviroGear®, Griswold®, Mouvex®, Neptune®, RedScrew® and Wilden®.
For more information on Pump Solutions Group (PSG), please visit www.pumpsg.com.
For more information on the Maag Group, please visit www.maag.com.
About PSG
Dover’s Pump Solutions Group (PSG®), the global leader in positive displacement pump and supporting technologies, delivers 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, India, and China. We are passionately committed to innovative technologies that will positively impact the world for the better; our focus is on providing the expertise you need by delivering tomorrow’s fluid and material transfer solutions today. Additional information is available on the company’s website atwww.pumpsg.com.
About Dover
Dover Corporation is a multi-billion dollar diversified global manufacturer. For over 50 years, Dover has been providing its customers with outstanding products and services in industrial technology that reflect the company’s commitment to operational excellence, innovation and market leadership. The company focuses on innovative equipment and components, specialty systems and support services through its four major operating segments: Energy, Communication Technologies, Engineered Systems and Printing & Identification. Dover is headquartered in Downers Grove, Illinois and employs over 34,000 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.
About Maag
Maag is a global leader in highly engineered gear pumps, filtration systems and pelletizers for plastics, chemicals, petrochemical and the food industries. Maag is a complete solutions provider of specialist pumps and pelletizers with a reputation and focus on high quality customer driven solutions. Maag is headquartered in Zurich, Switzerland with offices in Germany, US, France, Italy, Singapore, Malaysia, Taiwan, Brazil and China. Additional information is available on the company’s website at www.maag.com.
Contact:
Walter Bonnett, PSG VP of Marketing
+1 909-422-1780
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