) will acquire Italy-based Finder to strengthen its Pump
Solutions Group's position in the energy market and enhance its
global footprint. The transaction, subject to customary
regulatory approvals, is expected to be completed in the fourth
Following the acquisition, Finder will be integrated into The
Pump Solutions Group, an operating unit within Dover's Engineered
Systems segment. The segment contributed 42% of total Dover's
sales in 2012 and 44% in the first half of 2013. The Pump
Solutions Group is a global leader in pumps, systems and related
The Finder Group is one of the leading companies in Europe
engaged in the design and manufacture of engineered pumps and
systems for industrial applications that require heavy duty
products and advanced technical solutions. Its main products are
sold globally to major engineering companies and to end users
commanding dominating position in the fields of oil & gas,
nuclear energy, desalination, chemical, pharmaceutical and food.
Finder's sales network is spread across all continents,
encompassing over 75 countries through direct sales offices,
local agents and distributors.
The acquisition is a strategic fit for the Pump Solutions Group.
The group recently strengthened its Blackmer operation with the
acquisition of Australia-based Ebsray Pumps Pty. Ltd, a market
leader of pumps for a wide range of industrial applications in
Finder will immediately provide the group with the product
portfolio, application expertise, customer reference list, and
key certifications required to serve the fast-growing upstream,
midstream and downstream oil & gas markets. Finder will also
expand Dover's presence in key growth markets in Europe, the
Middle East and the Americas. With an estimated revenue of
approximately $80 million in 2013, it will add to Dover's growth
Dover will continue to benefit from its active acquisition
pipeline, bookings and orders growth. The spin-off of certain
part of its communication technologies businesses into a
standalone, publicly-traded company will simplify Dover's
business profile and enable it to focus on its key growth spaces
- Energy, Fluids, Refrigeration & Food Equipment, and
Printing & Identification.
The company's bookings and backlog have increased from the
prior-year levels in the second quarter. Dover's sound balance
sheet coupled with solid earnings growth should allow the company
to continue its dividend hikes and share repurchases in the years
BARNES GRP (B): Free Stock Analysis Report
DOVER CORP (DOV): Free Stock Analysis Report
GRAHAM CORP (GHM): Free Stock Analysis Report
GORMAN RUPP CO (GRC): Free Stock Analysis
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Dover currently retains a short-term Zacks Rank #2 (Buy). Other
stocks in the same industry with favorable Zacks ranks are
), both carrying a Zacks Rank # 1 (Strong Buy), and
Barnes Group Inc.
), with a Zacks Rank #2 (Buy).
Illinois-based Dover is an industrial conglomerate producing a
wide range of specialized industrial products and manufacturing
equipment. It operates through four major operating segments:
Communication Technologies, Energy, Engineered Systems and
Printing & Identification.