DOWNERS
GROVE, Ill., Jan. 17,
2024 /PRNewswire/ -- Dover (NYSE: DOV) today
announced that it has completed the acquisition of Transchem Group
("Transchem"), one of the largest suppliers of car wash chemistry
and associated solutions in North
America. Transchem is now part of OPW's Vehicle Wash
Solutions business ("OPW VWS") within Dover's Clean Energy &
Fueling segment.
Headquartered in Cambridge,
Ontario, and employing approximately 80 people, Transchem
has served the car wash industry for over 45 years and is known for
its high-performance cleaning and chemical solutions, including the
premium Turtle Wax® Pro product line, True Vue 2 chemical
management systems, ClearWash water reclaim systems, and Digital
Mosaic, a technology platform that enables car wash operators to
manage subscription and loyalty programs.
With the addition of Transchem's offerings, OPW VWS's product
portfolio is among the most comprehensive in the industry, offering
tunnel and in-bay automatic wash systems, payment terminals,
process controls, site management software, automation systems and
now chemistry and water reclaim systems.
"We are excited to have Transchem join the OPW team,
helping us grow our portfolio of market-leading brands," said
Keith Moye, Vice President and
General Manager of OPW VWS. "With Transchem, OPW can now offer its
customers and channel partners a broader set of chemical products
that deliver excellent wash performance and water reclaim
technology that reduces water usage and lowers operators'
costs. We look forward to driving significant growth
synergies leveraging our combined product offering and channel to a
large customer base across North
America."
Terms of the transaction were not disclosed.
About Dover:
Dover is a diversified global manufacturer and solutions
provider with annual revenue of over $8
billion. We deliver innovative equipment and components,
consumable supplies, aftermarket parts, software and digital
solutions, and support services through five operating segments:
Engineered Products, Clean Energy & Fueling, Imaging &
Identification, Pumps & Process Solutions and Climate &
Sustainability Technologies. Dover combines global scale with
operational agility to lead the markets we serve. Recognized for
our entrepreneurial approach for over 65 years, our team of over
25,000 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.
Forward Looking Statements:
This press release contains "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, including statements regarding the anticipated
effects of the transaction. All statements in this document other
than statements of historical fact are statements that are, or
could be deemed, "forward-looking" statements. Forward-looking
statements are subject to numerous important risks, uncertainties,
assumptions, and other factors, some of which are beyond the
Company's control. Factors that could cause actual results to
differ materially from current expectations include, among other
things, general economic conditions and conditions in the
particular markets in which we operate, changes in customer demand
and capital spending, competitive factors and pricing pressures,
our ability to develop and launch new products in a cost-effective
manner, and our ability to realize synergies from newly acquired
businesses. For details on the risks and uncertainties that could
cause our results to differ materially from the forward-looking
statements that may be contained herein, we refer you to the
documents we file with the Securities and Exchange Commission,
including our Annual Report on Form 10-K for the year ended
December 31, 2022, and any
subsequently filed Quarterly Reports on Form 10-Q and Current
Reports on Form 8-K. These documents are available from the SEC,
and on our website, www.dovercorporation.com. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Investor
Contact:
|
Media
Contact:
|
Jack Dickens
|
Adrian
Sakowicz
|
Senior Director –
Investor Relations
|
Vice President –
Communications
|
(630) 743-2566
|
(630)
743-5039
|
jdickens@dovercorp.com
|
asakowicz@dovercorp.com
|
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SOURCE Dover