Dover Corporation - DOV STOCK NEWS

Dover (NYSE: DOV) has completed the sale of its Environmental Solutions Group business to Terex (NYSE: TEX). The sold business was previously part of Dover's Engineered Products segment. This transaction marks the finalization of a previously announced deal, demonstrating Dover's commitment to portfolio optimization and strategic focus on its core businesses.

Terex (NYSE: TEX) has completed its acquisition of Environmental Solutions Group (ESG) from Dover for $2.0 billion, or $1.725 billion net of expected tax benefits. This strategic move is expected to:

1. Reduce cyclicality and lower capital intensity
2. Deliver financial accretion and unlock ~$25 million in synergies by 2026
3. Enhance Terex's presence in the waste & recycling segment
4. Expand its North American addressable market

ESG, known for its industry-leading brands like Heil and Marathon, has demonstrated a 7%+ long-term organic revenue CAGR over the past decade. The acquisition is anticipated to be double-digit percentage adjusted EPS accretive in 2025, with significant growth thereafter. Terex expects this move to drive increased revenue growth, free cash flow, EBITDA margin, and EPS accretion.

Markem-Imaje, a Dover company (NYSE: DOV), has launched its white MW2440 ink for coding polyethylene (PE) cables, including those made from low-smoke, zero halogen materials. This innovative ink offers high adhesion, enhanced durability, environmental resistance, and high contrast printing on various PE substrates. Key features include:

• Robust printing without pre or post-treatment
• Resistance to bending and transfer when cables are rolled
• Withstands fluids, UV light, and temperature variations
• Ultra-contrasted white code with perfect dot definition
• Halogen-free formula for reduced toxic fumes in case of fire

The MW2440 ink is now available for all Markem-Imaje 9750+ coder models, aiming to transform extrusion manufacturing processes.

Dover (NYSE: DOV) announced its participation in the upcoming National Association of Convenience Stores Trade Show (NACS Show) and Petroleum Equipment Institute Convention (PEI Convention) in Las Vegas, NV, on Oct. 8-10, 2024. Multiple Dover operating companies will showcase their innovative technologies for the convenience-store and retail-fueling industry, including:

1. Dover Food Retail: Featuring refrigeration and food-retail merchandising solutions from Hillphoenix, Anthony, and AMS Group brands.

2. Dover Fueling Solutions: Presenting advanced energy dispensing equipment, automation systems, and EV charging solutions.

3. OPW Retail Fueling: Showcasing underground fueling systems, watertight solutions, and clean energy products.

4. OPW Vehicle Wash Solutions: Introducing new vehicle wash systems, chemistries, and payment processing integrations.

The event highlights Dover's commitment to innovation in the convenience retail industry, which serves over 160 million customers daily and offers growth opportunities in clean energy, retail fueling, software solutions, refrigeration, foodservice, and vehicle wash.

Caldera, a Dover company (NYSE: DOV), has launched a new Direct-to-Film (DTF) solution for digital textile printing. This software features an intuitive interface that simplifies DTF image preparation, enabling high-quality printing without specialized expertise. The solution is designed to make DTF printing accessible to small businesses and creators, opening up opportunities in one of the fastest-growing print sectors.

Key features include:

• Streamlined management of alignments, color bars, white undercoats, and color knockouts
• Native compatibility with Windows, MacOS, and Linux
• Enhanced color boosting for vibrant results
• Versatility for customizing various textile applications

This launch aims to expand Caldera users' capabilities, allowing them to enter new markets and seize fresh opportunities in the DTF printing space.

CPC, a Dover company (NYSE: DOV), has launched the MicroCNX® ULT Series, a new aseptic micro-connector for cell and gene therapy (CGT) cryopreservation. This innovative product fits directly into freeze cassettes and withstands temperatures down to -190°C, supporting sterility throughout CGT development processes. The connectors are compatible with harsh chemicals like DMSO and common CGT tubing types.

This launch builds on CPC's earlier introduction of the 1/8" MicroCNX Series and the recent MicroCNX Luers. These products aim to provide flexible, sterile connection solutions for CGT manufacturers, from benchtop to commercialization. CPC continues to expand its aseptic connector portfolio to meet the evolving needs of the biopharma industry globally.

Advansor, a Dover Food Retail and Dover (NYSE: DOV) company, has launched a new range of CO2 climate solution enclosures for supermarkets, cold storage, and industrial applications. These enclosures offer faster on-site installation and flexible outdoor placement options. The entire heating and cooling rack, including modules, can be mounted in the new enclosure, ensuring quick installation and freeing up indoor space.

The enclosures come in two models: medium (four sizes up to four meters) and large (six sizes up to 10 meters). Features include solid welded steel base frames, fixed roofs for weather protection, and active cooling technology, making them suitable for warm climates. This all-in-one solution provides customers with a single delivery, point of contact, and warranty, reducing the risk of errors and supporting seamless installation.

Rotary, a part of Dover's Vehicle Service Group, has unveiled the patent-pending Flex MAX Linker, a remote-controlled device designed to connect and control up to 18 Rotary Flex MAX mobile column lifts. This innovative product aims to enhance efficiency and safety in lifting large-scale vehicles like heavy-duty trucks and multi-axle buses.

Key features of the Flex MAX Linker include:

• Single remote control for multiple lifts
• Push-button controls and digital display
• Compatibility with all Rotary Flex MAX mobile column lift models
• Flexible configuration options (2, 4, or 6 columns)
• Improved service time and space utilization in repair shops

The launch of this product demonstrates Rotary's commitment to providing cutting-edge equipment for the automotive repair industry.

Anthony, a Dover Food Retail and Dover (NYSE: DOV) company, has launched its new Infinity MAX Walk-In Cooler Doors. These doors are designed to enhance the shopping experience in food retail by providing maximum end-to-end merchandise visibility and easy product accessibility. Key features include:

- All-glass design with the thinnest Infinity Edge painted border (0.5")
- Optimax 7 Series LED lighting
- French swing doors with integrated hydraulic close, automatic hold-open, and door stop
- UL listed for safety and Department of Energy approved
- Available in two widths (24" and 30") and three heights (67", 75", and 79")
- Up to seven 27" deep, double-wide shelves with matching accessories

The Infinity MAX aims to create an elegant shopping experience while maintaining high durability and reliability.