DE-STA-CO Announces the Acquisition of Industrial Motion Control, LLC (IMC)
NEW YORK, Dec. 18 /PRNewswire-FirstCall/ -- DE-STA-CO, an operating company within the Material Handling platform of Dover Corporation's (NYSE: DOV) Industrial Products segment, and worldwide leader in robotic tooling, work-holding and flexible industrial automation solutions, announced today the acquisition of Industrial Motion Control, LLC ("IMC"), which has annual revenues of approximately $50 million. Terms of the transaction were not disclosed.
Serving a global customer base, IMC is one of the world's leading industrial automation manufacturers of mechanical motion control products, including high precision cam-actuated index drives, parts handlers and precision link conveyors, which are integrated into advanced factory automation systems used in a wide variety of industries, including paper conversion, consumer products, packaging, semiconductor, automotive, medical and pharmaceuticals. IMC's industry leading brand names of CAMCO and Ferguson have a proven reputation in the market for high load, high speed and high accuracy industrial automation applications. IMC is headquartered in Wheeling, IL with additional facilities in Belgium and China.
"IMC's products serve a variety of attractive end markets and are a key upfront consideration in the design of new industrial automation systems," commented Pat Carroll, President of DE-STA-CO. "Their products' strong brand names and channels combined with early visibility into industrial automation project requirements will pull through additional DE-STA-CO automation products. We are very pleased to welcome IMC to Team DE-STA-CO."
Jeff Peterson, President of IMC added "We are very excited about this new partnership, knowing that DE-STA-CO products are very complementary to IMC's product portfolio. It gives us the opportunity to offer a more comprehensive solution to our customers as they concept and design their industrial automation systems."
DE-STA-CO, a Dover Company, is a worldwide leader in the innovation, design, manufacture and support of clamping, gripping, transfer and robotic tooling solutions for workplace and industrial automation needs. The company is committed to the Team DE-STA-CO philosophy, a progressive approach to doing business that focuses on providing consistent, standard-setting service and products to every customer, regardless of geographic location. For more information about DE-STA-CO, please see their web site at www.destaco.com .
Dover Corporation, with over $7 billion in annualized revenues, is a global portfolio of manufacturing companies providing innovative components and equipment, specialty systems and support services for a variety of applications in the industrial products, engineered systems, fluid management and electronic technologies markets.
SOURCE: Dover Corporation
CONTACT: Paul Goldberg, Treasurer & Director of Investor Relations,
Dover Corporation, +1-212-922-1640
Web site: http://www.dovercorporation.com