Dover Adds to European Cryogenic Platform with Acquisition of SPS Cryogenics and Special Gas Systems
Dover (NYSE: DOV) has acquired SPS Cryogenics B.V. and Special Gas Systems (SGS) B.V., both located in Heerhugowaard, the Netherlands. These companies are now part of OPW's Clean Energy Solutions business within Dover's Clean Energy & Fueling segment. SPS and SGS specialize in designing, manufacturing, and supplying vacuum-insulated piping systems for various liquified gases.
This acquisition complements Dover's recent purchase of Demaco, supporting OPW CES's growth strategy and expanding its capabilities in the cryogenic and industrial gas sectors. The move aims to address the increasing global demand for clean energy solutions and reinforces Dover's commitment to delivering advanced technological solutions to customers.
Dover (NYSE: DOV) ha acquisito SPS Cryogenics B.V. e Special Gas Systems (SGS) B.V., entrambe situate a Heerhugowaard, nei Paesi Bassi. Queste aziende sono ora parte di OPW's Clean Energy Solutions all'interno del segmento Clean Energy & Fueling di Dover. SPS e SGS si specializzano nella progettazione, produzione e fornitura di sistemi di tubazioni a isolamento vaccum per vari gas liquefatti.
Questa acquisizione completa l'acquisto recente di Demaco da parte di Dover, sostenendo la strategia di crescita di OPW CES ed espandendo le sue capacità nei settori del gas criogenico e industriale. Questa mossa mira a rispondere alla crescente domanda globale di soluzioni energetiche pulite e rafforza l'impegno di Dover nel fornire soluzioni tecnologiche avanzate ai clienti.
Dover (NYSE: DOV) ha adquirido SPS Cryogenics B.V. y Special Gas Systems (SGS) B.V., ambas ubicadas en Heerhugowaard, Países Bajos. Estas empresas ahora forman parte de OPW's Clean Energy Solutions dentro del segmento Clean Energy & Fueling de Dover. SPS y SGS se especializan en el diseño, fabricación y suministro de sistemas de tuberías aisladas al vacío para diversos gases licuados.
Esta adquisición complementa la reciente compra de Demaco por parte de Dover, apoyando la estrategia de crecimiento de OPW CES y ampliando sus capacidades en los sectores de gases criogénicos e industriales. El movimiento tiene como objetivo atender la creciente demanda global de soluciones de energía limpia y refuerza el compromiso de Dover de ofrecer soluciones tecnológicas avanzadas a los clientes.
Dover (NYSE: DOV)는 네덜란드 Heerhugowaard에 위치한 SPS Cryogenics B.V.와 Special Gas Systems (SGS) B.V.를 인수했습니다. 이 회사들은 이제 Dover의 청정 에너지 및 연료 공급 부문 내 OPW의 청정 에너지 솔루션 사업의 일원이 되었습니다. SPS와 SGS는 다양한 액체 가스를 위한 진공 절연 배관 시스템의 설계, 제조 및 공급을 전문으로 합니다.
이번 인수는 Dover의 최근 Demaco 인수와 보완 관계에 있으며, OPW CES의 성장 전략을 지원하고 냉동 및 산업 가스 분야에서의 역량을 확장합니다. 이 조치는 청정 에너지 솔루션에 대한 세계적인 수요 증가에 대응하고 고객에게 첨단 기술 솔루션을 제공하기 위한 Dover의 의지를 강화합니다.
Dover (NYSE: DOV) a acquis de SPS Cryogenics B.V. et Special Gas Systems (SGS) B.V., toutes deux situées à Heerhugowaard, aux Pays-Bas. Ces entreprises font désormais partie de OPW's Clean Energy Solutions dans le secteur Clean Energy & Fueling de Dover. SPS et SGS se spécialisent dans la conception, la fabrication et la fourniture de systèmes de tuyauterie à isolation sous vide pour divers gaz liquéfiés.
Cette acquisition complète l'achat récent de Demaco par Dover, soutenant la stratégie de croissance d'OPW CES et élargissant ses capacités dans les secteurs des gaz cryogéniques et industriels. Ce mouvement vise à répondre à la demande mondiale croissante de solutions énergétiques propres et renforce l'engagement de Dover à fournir des solutions technologiques avancées à ses clients.
Dover (NYSE: DOV) hat SPS Cryogenics B.V. und Special Gas Systems (SGS) B.V. übernommen, die beide in Heerhugowaard, Niederlande, ansässig sind. Diese Unternehmen sind jetzt Teil von OPW's Clean Energy Solutions im Bereich Clean Energy & Fueling von Dover. SPS und SGS sind auf die Planung, Herstellung und Lieferung von vakuumisolierten Rohrleitungssystemen für verschiedene verflüssigte Gase spezialisiert.
Diese Übernahme ergänzt den kürzlichen Kauf von Demaco durch Dover, unterstützt die Wachstumsstrategie von OPW CES und erweitert die Fähigkeiten im Bereich kryogene und industrielle Gase. Der Schritt zielt darauf ab, der wachsenden globalen Nachfrage nach sauberen Energielösungen gerecht zu werden und bekräftigt Dovers Engagement, fortschrittliche technologische Lösungen für Kunden zu liefern.
- Expansion of Dover's European cryogenic platform
- Complementary product offering to OPW CES's global cryogenic gas flow control platform
- Diversification of product portfolio in clean energy solutions
- Strengthened position in cryogenic and industrial gas sectors
- None.
Insights
Dover's acquisition of SPS Cryogenics and Special Gas Systems (SGS) is a strategic move that strengthens its position in the clean energy sector. This purchase, along with the recent acquisitions of Demaco and Marshall Excelsior, signals Dover's aggressive expansion in the cryogenic and industrial gas markets.
The deal enhances Dover's product portfolio and geographical reach, particularly in Europe. It's likely to boost revenue and market share in the growing clean energy segment. However, investors should monitor integration costs and potential synergies. The acquisition's financial terms weren't disclosed, making it challenging to assess its immediate impact on Dover's balance sheet.
Overall, this move aligns with global clean energy trends and could position Dover favorably for long-term growth. Investors should watch for updates on how these acquisitions contribute to Dover's financial performance in upcoming quarters.
Dover's acquisition of SPS and SGS is a calculated response to the increasing global demand for clean energy solutions. This move expands Dover's capabilities in vacuum-insulated piping systems for liquified gases, a important component in various industrial applications and the clean energy transition.
The cryogenic gas market is projected to grow significantly, driven by rising demand in healthcare, food & beverage and energy sectors. Dover's strategic acquisitions position it to capitalize on this trend. The company's expanded product portfolio and European presence could lead to increased market share and competitive advantage.
Investors should consider the potential for cross-selling opportunities and economies of scale resulting from these acquisitions. However, it's also important to monitor market dynamics and potential regulatory changes in the clean energy sector that could impact Dover's growth trajectory in this space.
SPS and SGS design, manufacture, and supply vacuum-insulated piping systems for a wide variety of liquified gases like nitrogen, oxygen, carbon dioxide, and other industrial gases. SPS and SGS bring a complementary product offering and expanded European presence to OPW CES's leading global cryogenic gas flow control platform.
"This acquisition represents a logical addition to our recent acquisition of Demaco supporting the OPW CES growth strategy, boosting our capabilities and diversifying our product portfolio to address the increasing global demand for clean energy," stated Kevin Long, President of OPW. "The addition of SPS and SGS, along with the acquisitions of Demaco and Marshall Excelsior last month, expands our position in the cryogenic and industrial gas sectors, reinforcing our commitment to delivering cutting-edge technological solutions to our customers."
About Dover:
Dover is a diversified global manufacturer and solutions provider with an 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.
Investor Contact:
Jack Dickens
Senior Director - Investor Relations
(630) 743-2566
jdickens@dovercorp.com
Media Contact:
Adrian Sakowicz
Vice President – Communications
(630) 743-5039
asakowicz@dovercorp.com
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SOURCE Dover
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