Dover Enters Into Agreement To Acquire FW Murphy

(RTTNews) - On Wednesday, Dover Corporation (DOV) revealed that it has agreed to acquire FW Murphy Production Controls, LLC, a subsidiary of Genisys Controls LLC, for $530 million in cash.

Once the transaction is complete, FW Murphy will join the Dover Precision Components (DPC) operating unit in Dover's Pumps & Process Solutions segment.

This acquisition is projected to add new offerings that complement DPC's Cook Compression product line, introduce digital and recurring revenue streams, help DPC to become a leader in compression technologies for clean energy, and enable DPC to benefit from the rising popularity of next-gen remote monitoring, predictive maintenance, and real-time performance optimization solutions.

Marcell Ulrichs, President of DPC said, "FW Murphy is a highly regarded technological pioneer and leader in controlling and optimizing the performance of reciprocating compressors and engines... We expect to achieve tangible growth synergies from our combined product offerings and global go-to-market channels."

The business is predicted to earn around $120 million in revenue by 2023 with a considerable amount coming from aftermarket and recurring revenue.

The transaction is expected to close in the fourth quarter of 2023, pending customary closing conditions, and regulatory approvals.