Dover Adds Cryogenic Pumps to Its Pumps & Process Solutions Segment
Dover (NYSE: DOV) has announced the acquisition of Cryogenic Machinery Corp. (Cryo-Mach), a North Hollywood-based manufacturer of cryogenic centrifugal pumps, mechanical seals, and accessories. The acquisition will be integrated into Dover's PSG business within its Pumps & Process Solutions segment.
The strategic move expands Dover's presence in the cryogenic end market, particularly in applications involving liquified oxygen, argon, and nitrogen. This acquisition enhances Dover's participation in industrial gas and transportation markets while diversifying PSG's portfolio with cryogenic centrifugal pump technology. Financial terms of the transaction were not disclosed.
Dover (NYSE: DOV) ha annunciato l'acquisizione di Cryogenic Machinery Corp. (Cryo-Mach), un produttore di pompe centrifughe criogeniche, guarnizioni meccaniche e accessori con sede a North Hollywood. L'acquisizione sarà integrata nel business PSG di Dover all'interno del suo segmento Pompe e Soluzioni di Processo.
Questa mossa strategica espande la presenza di Dover nel mercato finale criogenico, in particolare nelle applicazioni che coinvolgono ossigeno liquefatto, argon e azoto. Questa acquisizione migliora la partecipazione di Dover nei mercati dei gas industriali e dei trasporti, diversificando al contempo il portafoglio di PSG con la tecnologia delle pompe centrifughe criogeniche. I termini finanziari della transazione non sono stati divulgati.
Dover (NYSE: DOV) ha anunciado la adquisición de Cryogenic Machinery Corp. (Cryo-Mach), un fabricante de bombas centrífugas criogénicas, sellos mecánicos y accesorios con sede en North Hollywood. La adquisición se integrará en el negocio PSG de Dover dentro de su segmento de Bombas y Soluciones de Proceso.
Este movimiento estratégico expande la presencia de Dover en el mercado final criogénico, especialmente en aplicaciones que involucran oxígeno, argón y nitrógeno licuados. Esta adquisición mejora la participación de Dover en los mercados de gases industriales y transporte, mientras diversifica el portafolio de PSG con tecnología de bombas centrífugas criogénicas. No se divulgaron los términos financieros de la transacción.
도버 (NYSE: DOV)는 크라이오제닉 기계 주식회사 (Cryo-Mach)를 인수했다고 발표했습니다. 이 회사는 노스 할리우드에 본사를 둔 크라이오제닉 원심펌프, 기계식 씰 및 액세서리를 제조하는 업체입니다. 이 인수는 도버의 펌프 및 프로세스 솔루션 부문 내 PSG 사업에 통합될 것입니다.
이 전략적 이동은 도버의 크라이오제닉 최종 시장에서의 존재감을 확장하며, 특히 액화 산소, 아르곤 및 질소를 포함하는 응용 프로그램에서 그렇습니다. 이 인수는 산업 가스 및 운송 시장에서의 도버의 참여를 향상시키며, PSG의 포트폴리오를 크라이오제닉 원심펌프 기술로 다양화합니다. 거래의 재정적 조건은 공개되지 않았습니다.
Dover (NYSE: DOV) a annoncé l'acquisition de Cryogenic Machinery Corp. (Cryo-Mach), un fabricant de pompes centrifuges cryogéniques, de joints mécaniques et d'accessoires basé à North Hollywood. L'acquisition sera intégrée dans l'activité PSG de Dover dans son secteur Pompes et Solutions de Processus.
Ce mouvement stratégique élargit la présence de Dover sur le marché cryogénique, notamment dans les applications impliquant de l'oxygène, de l'argon et de l'azote liquéfiés. Cette acquisition améliore la participation de Dover sur les marchés des gaz industriels et des transports tout en diversifiant le portefeuille de PSG avec la technologie des pompes centrifuges cryogéniques. Les conditions financières de la transaction n'ont pas été dévoilées.
Dover (NYSE: DOV) hat die Übernahme von Cryogenic Machinery Corp. (Cryo-Mach) bekannt gegeben, einem Hersteller von kryogenen Zentrifugalpumpen, mechanischen Dichtungen und Zubehör mit Sitz in North Hollywood. Die Übernahme wird in das PSG-Geschäft von Dover in seinem Segment Pumpen und Prozesslösungen integriert.
Dieser strategische Schritt erweitert Dovers Präsenz im kryogenen Endmarkt, insbesondere in Anwendungen, die flüssigen Sauerstoff, Argon und Stickstoff betreffen. Diese Übernahme stärkt Dovers Engagement in den Märkten für Industriegase und Transport, während das Portfolio von PSG mit Technologie für kryogene Zentrifugalpumpen diversifiziert wird. Die finanziellen Bedingungen der Transaktion wurden nicht bekannt gegeben.
- Strategic expansion into cryogenic end market
- Diversification of product portfolio with specialized pump technology
- Enhanced market presence in industrial gas and transportation sectors
- Addition of mission-critical products to existing offerings
- None.
Insights
This strategic acquisition significantly enhances Dover's market position in the specialized cryogenic pumps sector. The integration of Cryo-Mach into Dover's PSG business unit represents a calculated move to capture market share in the growing industrial gas sector, particularly in critical applications for liquefied gases like oxygen, nitrogen and argon. The cryogenic pump market is experiencing robust growth due to increasing demand in industrial applications and the expanding LNG infrastructure globally.
The deal's value proposition lies in three key aspects:
- Technology portfolio expansion into centrifugal pump systems
- Market diversification in the industrial gas sector
- Enhanced competitive positioning in the cryogenic equipment market
While the transaction value remains undisclosed, similar acquisitions in the specialized industrial equipment sector typically command EBITDA multiples between 8x-12x. The strategic fit aligns perfectly with Dover's historical approach of acquiring niche technical leaders to strengthen their market position and expand their technological capabilities.
The technical implications of this acquisition are substantial for Dover's product ecosystem. Cryo-Mach's specialized expertise in cryogenic centrifugal pumps fills a important gap in Dover's portfolio. These pumps operate in extreme conditions, handling liquefied gases at temperatures as low as -320°F (-196°C), requiring advanced engineering capabilities and specialized manufacturing processes.
The integration presents significant cross-selling opportunities, particularly in:
- Industrial gas processing facilities
- LNG transport and storage infrastructure
- Medical oxygen systems
Headquartered in
"We are thrilled to add Cryo-Mach to our best-in-class portfolio of pump businesses," stated Karl Buscher, President of PSG. "This acquisition strengthens PSG's position within cryogenics and is consistent with our strategic approach of expanding our core and securing access to adjacent markets that enable sustainable, profitable growth."
Terms of the transaction were not disclosed.
About Dover:
Dover is a diversified global manufacturer and solutions provider with annual revenue of over
Forward-Looking Statements:
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the anticipated effects of the transaction. All statements in this document other than statements of historical fact are statements that are, or could be deemed, "forward-looking" statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions, and other factors, some of which are beyond the Company's control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-effective manner, and our ability to realize synergies from newly acquired businesses. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements that may be contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the SEC, and on our website, www.dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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SOURCE Dover
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