Dover Announces Acquisition Of Solaris Laser S.A.

Rhea-AI Summary

Dover announced the acquisition of Solaris Laser S.A., enhancing its Markem-Imaje business unit within the Imaging & Identification segment. Solaris, based in Europe, specializes in laser systems for industrial product marking and coding, having over 25 years in the industry. The acquisition is aligned with Dover's strategy for sustainable growth, expanding Markem-Imaje’s product line to meet increasing demand for laser coding technologies. The financial terms were not disclosed, but the move reflects Dover's commitment to investing in core markets that could create value for shareholders.

Positive

• Acquisition enhances Markem-Imaje's product line.
• Addresses growing customer demand for laser coding technologies.
• Aligns with Dover's strategy for sustainable and profitable growth.

Negative

• None.

DOWNERS GROVE, III., Aug. 20, 2020 /PRNewswire/ -- Dover (NYSE: DOV) announced today that it has completed the acquisition of Solaris Laser S.A. ("Solaris"), which is now part of the Markem-Imaje business unit, a trusted global manufacturer of product identification and traceability solutions within Dover's Imaging & Identification segment.

Based in Europe, Solaris supplies advanced fiber, ultraviolet and CO₂ laser systems used for product marking and coding in industrial and packaging applications across a broad range of end markets. Solaris has served the marking and coding industry for over 25 years.

The acquisition of Solaris enhances Markem-Imaje's laser technology product line and further strengthens its position as a leading provider of identification and traceability equipment and solutions. This product line expansion will enable Markem-Imaje to better address growing customer demand for laser coding technologies, which offer reliability and productivity advantages that are important in certain applications.

Terms of the transaction were not disclosed. This transaction meets Dover's strategic and financial criteria for acquisitions and reflects Dover's commitment to deploying capital in close-to-core markets that offer potential for sustainable, profitable growth, where Dover can create value for shareholders.

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $7 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover combines global scale, operational agility, world-class engineering capability and customer intimacy to lead the markets we serve. Recognized for our entrepreneurial approach for over 60 years, our team of over 23,000 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.

About Markem-Imaje:

Markem-Imaje, a wholly owned subsidiary of Dover, is a trusted manufacturer of product identification and traceability solutions, offering a full line of reliable and innovative inkjet, thermal transfer, laser, and print and apply label systems. Markem-Imaje provides global reach to over 50,000 customers with 30 subsidiaries, 6 technology centers, several equipment repair centers and manufacturing plants with the most comprehensive marking and coding portfolio available in the marketplace. Visit markem-imaje.com for further information.

Forward-Looking Statements:

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. 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, the impacts of COVID-19, or other future pandemics, on the global economy and on our customers, suppliers, employees, business and cash flows, other 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, 2019, and our 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:	Media Contact:
Andrey Galiuk	Adrian Sakowicz
Vice President – Corporate Development	Vice President – Communications
and Investor Relations	(630) 743-5039
(630) 743-5131	asakowicz@dovercorp.com
agaliuk@dovercorp.com

 

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SOURCE Dover

FAQ

What does Dover's acquisition of Solaris entail?

Dover acquired Solaris Laser S.A. to enhance its Markem-Imaje business unit and expand its laser technology product line.

How does the Solaris acquisition impact Dover's market position?

The acquisition strengthens Dover's position in product identification and traceability by expanding into laser coding technologies.

What are the financial terms of the Solaris acquisition?

The financial terms of the transaction have not been disclosed.

When was the acquisition of Solaris completed?

The acquisition was completed on August 20, 2020.

How will the acquisition impact Dover's shareholders?

The acquisition aligns with Dover's strategy to create value for shareholders through investment in core markets.