Waukesha Bearings Corporation Acquires Inpro/Seal Company
NEW YORK, Dec 31, 2009 /PRNewswire-FirstCall via COMTEX/ -- Dover Corporation (NYSE: DOV) announced today that Waukesha Bearings, an operating company in Dover's Fluid Management Segment and global provider of custom-engineered hydrodynamic bearings and magnetic bearing systems, has acquired Inpro/Seal Company, the leading designer and manufacturer of bearing isolator technologies. Inpro/Seal is based in Rock Island, Illinois. Financial terms of the transaction were not disclosed.
The acquisition of Inpro/Seal adds an adjacent product to Waukesha's market-leading bearing solutions for oil & gas and power generation markets. The Inpro/Seal brand has been highly successful in North America and when leveraged across Waukesha's global footprint, will provide opportunities for growth internationally. Waukesha expects to realize additional synergies through Dover's global sourcing initiatives and from joint technology development as manufacturers and end-users of rotating equipment seek more advanced, integrated solutions.
William Spurgeon, Dover Fluid Management President and Chief Executive Officer said, "Inpro/Seal is an excellent fit with Waukesha. The acquisition of the market leader in engineered bearing isolators is consistent with Dover's strategy of pursuing bolt-on companies with long-term growth potential. Inpro/Seal's market position and commitment to innovation make it a great addition to Waukesha Bearings and to our Energy platform."
About Dover Corporation
Dover Corporation 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. For more information, please visit http://www.dovercorporation.com/.
About Waukesha Bearings
Waukesha Bearings is a leading designer and manufacturer of engineered hydrodynamic and magnetic bearings for high-performing turbomachinery in oil & gas, power generation, marine and industrial markets. Typical applications include gas, steam and hydro turbines, centrifugal gas compressors, gearboxes, pumps and motors.
Founded in 1946, Waukesha has been an operating company of Dover since 1977. Headquartered in Pewaukee, Wisconsin, Waukesha has facilities in the US, UK, Mexico, Russia, India and Japan, and localized sales representation around the world.
SOURCE Dover Corporation