Dover completed the acquisition of the All-Flo Pump Company, Limited business (“All-Flo”), which is now part of the Pump Solutions Group (“PSG”) unit within Dover’s Fluids segment.
Founded in 1986 and headquartered in Mentor, Ohio, All-Flo is a growing manufacturer of specialty air-operated double-diaphragm (“AODD”) pumps used in a wide range of industrial applications to transfer viscous, abrasive and hazardous fluids, sludges and slurries. The addition of All-Flo further enhances PSG’s leading AODD pump portfolio and expands its geographic and channel reach.
Source: Dover Corporation
“We’re excited to add All-Flo to our best-in-class portfolio of pump businesses,” said Richard J. Tobin, Dover’s President and Chief Executive Officer. “This acquisition strengthens PSG’s market-leading position and is consistent with our strategic approach of deploying capital in close-to-core markets that offer sustainable, profitable growth, and where we can confidently create value for shareholders.”
Karl Buscher, President PSG, said, “we are very excited to have the opportunity to add the All-Flo range to our unique specialty pump portfolio. We see All-Flo expanding our channels and enabling more flexibility to implement alternative routes to market.”
With approximately $12 million of revenue generated in 2018, All-Flo is expected to be accretive to margins of Dover and its Fluids segment. The acquisition is expected to generate double-digit cash Return on Invested Capital (ROIC) by Year 3.
Terms of the transaction were not disclosed.