Dover's PSG to acquire Finder Group

Pump Solutions Group (PSG^?), an operating company within Dover Corporation (NYSE: DOV) and a global leader of pumps, systems and related technologies, has signed a definitive agreement to acquire Finder S.p.A., headquartered in Merate, Italy.

Finder designs and manufactures API engineered pumps and systems for the global energy market, primarily oil and gas. It has operations in Merate and Querceta, Italy, and Venissieux, France, as well as a network of representation in more than 75 countries. Its products include: API & standard centrifugal pumps, API triplex plunger pumps, API twin screw pumps, API vacuum pumps.

The company will operate as a business unit within PSG, providing enhanced customer value and shareholder return by leveraging the combined synergies of the businesses. It also expects to generate revenue of $80 million in 2013. The transaction is subject to regulatory approvals, and is expected to close early in the fourth quarter. Terms of the transaction were not disclosed.

Finder is an attractive acquisition for Dover’s Pump Solutions Group due to its API centrifugal, piston, and twin screw pump technologies serving the energy market. The is a strong synergistic fit for PSG, which has built its presence in the upstream, midstream and downstream oil & gas segment through Blackmer^? pumps and its recent Ebsray acquisition.

Lebron XIII Elite PE