Dover Completes Sale of Texas Hydraulics
DOVER COMPLETES SALE OF TEXAS HYDRAULICS
Downers Grove, IL, February 17, 2016 - Dover (NYSE: DOV) announced today that it has completed the sale of its Texas Hydraulics business unit ("THI"), headquartered in Temple, Texas, to Wynnchurch Capital. Terms of the transaction were not disclosed.
Robert A. Livingston, President & Chief Executive Officer of Dover said, "The sale of THI marks another step in focusing our business mix on our key end-markets. We will continue to look for opportunities to enhance our portfolio and build upon our strong market positions."
Lazard served as the exclusive financial advisor to Dover.
Dover is a diversified global manufacturer with annual revenues of $7 billion. We deliver innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for 60 years, our team of 26,000 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 www.dovercorporation.com.
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