Diversified industrial manufacturer Eaton Corporation announced it has reached a definitive agreement with Dover Resources, Inc. to purchase its Ronningen-Petter industrial fine filtration business.
Terms were not disclosed. The transaction is expected to close by the end of the third quarter, subject to customary regulatory approvals and closing conditions. Dover Resources is a subsidiary of Dover Corporation.
Dover Resource's Ronningen-Petter fine filtration business had 2005 sales of approximately $30 million. It provides filters and components to customers in end markets that include the oil and gas, pulp and paper, and food and beverage industries. The business is based in Portage, Michigan, and has 110 employees.
"This acquisition expands our industrial filtration offerings by providing access to new end markets and strengthening our product offerings," said Craig Arnold, Eaton senior vice president and president - Fluid Power Group. "Ronningen-Petter is a recognized name in the fine filtration market and we're looking forward to combining the strengths of both organizations."