Dover Corp Stock Price, News & Analysis

Rotary, a part of Vehicle Service Group and Dover (NYSE: DOV), has launched the LT35A Air-Hydraulic Lifting Table. This innovative tool is designed to enhance flexibility, functionality, and safety in automotive service and repair shops. With a 3,500 lb. capacity, the LT35A is ideal for lifting heavy components like EV batteries, engines, and transmissions.

Key features include:

• Side-to-side tilt alignment with fore and aft tilt adjustments
• Air-hydraulic operation (no electrical power needed)
• Pushbutton pendant control for easy use
• Air-released mechanical locks and 360° low friction casters

Dover (NYSE: DOV) has acquired Marshall Excelsior Company (MEC) for $395M in cash, integrating it into the OPW Global unit within Dover's Clean Energy & Fueling segment. MEC, a leading provider of flow control components for liquefied petroleum gas and industrial gases, generated approximately $120 million in revenue in 2023.

This strategic acquisition expands OPW's offerings in the compressed and liquefied gases industry, enhancing Dover's portfolio in clean energy applications. MEC's strengths include significant recurring revenue from mission-critical components, differentiated products with regulatory and safety-driven advantages, and a diverse blue-chip customer base.

Dover (NYSE: DOV) has announced the sale of its Environmental Solutions Group (ESG) business to Terex (NYSE: TEX) for $2 billion. ESG, part of Dover's Engineered Products segment, is a leading provider of refuse collection vehicles, compactors, and balers, along with related aftermarket equipment and digital offerings. The Chattanooga-based unit generated approximately $750 million in revenue in 2023.

The transaction is expected to close before the end of 2024, subject to regulatory approvals and customary closing conditions. Dover's CEO, Richard J. Tobin, expressed gratitude to ESG's management team for their transformational efforts over the past decade. Centerview Partners and Skadden, Arps, Slate, Meagher & Flom LLP served as financial advisor and legal counsel to Dover, respectively.

Terex (NYSE: TEX) has announced a $2.0 billion acquisition of Environmental Solutions Group (ESG) from Dover The deal, valued at $1.725 billion after tax benefits, represents 8.4x 2024E EBITDA including synergies. ESG is a leader in refuse collection vehicles and waste compaction equipment, with brands including Heil, Marathon, and Curotto-Can.

Key points of the acquisition:

• Reduces cyclicality and expands Terex's presence in the waste and recycling market
• Expected to unlock $25 million in synergies by 2026
• Enhances Terex's North American market exposure to 65%
• Anticipated to be double-digit percentage adjusted EPS accretive in 2025
• Creates a new Environmental Solutions segment, combining ESG with Terex's Utilities business

The transaction is expected to close in the second half of 2024, subject to regulatory approvals.

Dover (NYSE: DOV) has acquired Demaco Holland B.V., a European provider of cryogenic flow control components. Demaco will join OPW's Clean Energy Solutions business within Dover's Clean Energy & Fueling segment. The acquisition enhances Dover's offerings in critical flow control components for cryogenic applications, particularly in hydrogen and industrial gases.

Demaco's product range includes vacuum jacketed piping, separators, sub-coolers, valves, and other engineered products. This acquisition strengthens OPW's presence in European and Asian cryogenic markets, creating a leading global cryogenic gas flow control platform. The move aligns with OPW CES's expansion strategy, enhancing capabilities to meet growing demands in industrial gas and clean energy sectors worldwide.

SWEP, a Dover company and leading supplier of brazed plate heat exchangers (BPHEs), has launched the SWEP 190 range of BPHEs optimized for low-global warming potential (GWP) and natural refrigerants. This new range includes the SWEP D190, FI190, and PI190 models, designed to help customers meet stringent regulations on fluorinated gases in HVACR systems.

The 190 range offers single-circuit and dual-circuit versions with an operating range of 60kW to 150kW. These units are specifically designed for use with R32, R454B, and R290 refrigerants, featuring integrated distribution for responsive stability. SWEP's commitment to sustainable energy solutions is evident in this product launch, supporting the HVACR industry's evolution towards higher energy efficiency and environmental sustainability.

OPW Engineered Systems, a Dover (NYSE: DOV) company, has launched the 8800 Series Overfill and Ground Monitoring System for terminal operators. This advanced solution aims to enhance safety and intuitiveness in filling processes, with features that can integrate into existing terminal-automation systems. The series includes three models:

1. 8870: Features an OLED display and LED indicator lights for intuitive loading.
2. 8851N: Uses LED lights to communicate ground and overfill status.
3. 8814: Provides ground verification with LED indicator lights.

The system utilizes state-of-the-art technology in a compact, weatherproof cabinet, offering improved communication through pictograms and LED lights, regardless of language barriers.

Dover (NYSE: DOV) will release its second quarter 2024 earnings on July 25, 2024, at 6:00 a.m. Central time (7:00 a.m. Eastern time). The company will host a conference call later that morning at 8:30 a.m. Central time (9:30 a.m. Eastern time) to discuss the results. Participants can join the call by dialing 1 (800) 343-4136 for domestic calls or 1 (203) 518-9843 for international calls, with conference ID DOVQ224. Dover encourages callers to dial in at least 15 minutes early. The live audio webcast will be accessible on Dover's website, and a replay of the call will be available from 12:00 p.m. Central time on July 25 until 10:59 p.m. Central time on August 15, 2024. Additionally, a webcast replay link will be archived on Dover's website for 90 days.

Systech, a subsidiary of Dover and part of Markem-Imaje, launched a new turnkey manual aggregation and rework solution for the pharmaceutical industry. This is the first integrated product post-acquisition of Pharmacontrol Electronic (PCE). The solution combines PCE's robust hardware with Systech's leading software and mobile rework capabilities, designed to optimize operations, ensure product safety, and comply with regulatory standards. The compact, portable design supports item-by-item manual aggregation and flexible rework on production floors, enhancing productivity and data integrity as regulatory deadlines approach.

According to Sreedhar Patnala, General Manager of Systech, the solution strengthens supply chain safety and connectivity, promising increased operational productivity and sustained regulatory compliance.