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Dover Acquires Manufacturer Of Precision Gear Pumps

Dec 15, 2022•about 3 years ago

Acquiring Company

Dover

Acquired Company

Precision Gear Pumps

Downers Grove

Description

Dover (NYSE: DOV) announced today that it has completed the acquisition of Witte Pumps & Technology GmbH ("Witte"), a manufacturer of precision gear pumps. Witte will become part of the Maag business unit within Dover's Pumps & Process Solutions segment.

Company Information

Company

Dover

Location

Downers Grove, Illinois, United States

About

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $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 with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of over 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.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed