Dover (NYSE: DOV) announced today that it has completed the acquisition of the All-Flo Pump Company, Limited business (“All-Flo”), which is now part of the Pump Solutions Group® (“PSG”) unit within Dover’s Fluids segment.
Founded in 1986 and headquartered in Mentor, Ohio, All-Flo is a growing manufacturer of specialty air-operated double-diaphragm (“AODD”) pumps used in a wide range of industrial applications to transfer viscous, abrasive and hazardous fluids, sludges and slurries. The addition of All-Flo further enhances PSG’s leading AODD pump portfolio and expands its geographic and channel reach.
“We’re excited to add All-Flo to our best-in-class portfolio of pump businesses,” said Richard J. Tobin, Dover’s President and Chief Executive Officer. “This acquisition strengthens PSG’s market-leading position and is consistent with our strategic approach of deploying capital in close-to-core markets that offer sustainable, profitable growth, and where we can confidently create value for shareholders.”
With approximately $12 million of revenue generated in 2018, All-Flo is expected to be accretive to margins of Dover and its Fluids segment. The acquisition is expected to generate double-digit cash Return on Invested Capital (ROIC) by Year 3.
Terms of the transaction were not disclosed.
Dover is a diversified global manufacturer with annual revenues of approximately $7 billion. We deliver innovative equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services through three operating segments: Engineered Systems, Fluids and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of approximately 24,000 employees takes an ownership mindset, collaborating with customers to redefine what’s possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under “DOV.” Additional information is available at dovercorporation.com.
PSG is a global pump solution expert and leading manufacturer of pumps, systems and related flow-control technology for the safe and efficient transfer of critical and valuable fluids and materials. Headquartered in Oakbrook Terrace, IL, USA, PSG is comprised of several world-class brands, including Abaque™, Almatec®, Blackmer®, Ebsray®, EnviroGear®, Griswold®, Mouvex®, Neptune™, Quattroflow™ and Wilden®. PSG products are manufactured on three continents – North America, Europe and Asia – in state-of-the-art facilities that practice lean manufacturing and are ISO-certified. PSG is part of the Fluids segment of Dover Corporation. For additional information on PSG, please visit psgdover.com. PSG: Where Innovation Flows.