Dover has announced that it has acquired Marshall Excelsior Company (MEC) for $395 million (€364 million) in cash. MEC will become part of the OPW Global operating unit within Dover’s Clean Energy & Fuelling segment (DCEF).
Headquartered in Marshall, Michigan, MEC supplies highly-engineered flow control components for transportation, storage, and use of liquified petroleum gas and other industrial gases. MEC’s comprehensive portfolio of fittings, adapters, valves, regulators, pigtails, gauges, and related accessories drives differentiated performance to meet the exacting safety, quality, and reliability standards of its customers’ mission-critical applications.
Kevin Long, OPW’s president says: ‘We are very excited about the acquisition of MEC. MEC’s innovative solutions expand the range of our offerings to our customers and position us to drive future growth and synergies. This strategic move enhances our technological capabilities and positions us at the forefront of innovation in the cryogenic and industrial gas markets.’
Dover’s president and chief executive officer, Richard J. Tobin adds: ‘The acquisition of MEC enhances Dover’s portfolio and continues the strategic evolution of DCEF into a growth-exposed set of critical components businesses catering to clean energy applications. In addition to strengthening our clean energy platform, MEC is a strong business model fit with Dover due to its significant recurring revenue of mission-critical components, differentiated product attributes with clear regulatory and safety-driven tailwinds, and large installed base with a diverse blue-chip customer base.’
