Doverís PSG Group Finalizes Finder Pompe Acquisition
Today, Dover’s Pump Solutions Group (PSG) announced that it has completed the acquisition of Finder Pompe S.p.A (“Finder”) for approximately $145 million. A global leader of pumps, systems, and related technologies, PSG signed the definitive agreement to acquire Finder in August 2013.
At the time of the August signing, Gary Lent, Vice President of Corporate Development for PSG said: “The addition of Finder continues PSG’s strategic vision of acquiring premium technologies in high growth markets. We also see this as a key building block to future acquisitions within the energy vertical market.”
Finder, headquartered in Merate, Italy, is a leader in the design and manufacturing of API pumps and systems for the global energy market, specializing in centrifugal pumps, twin screw pumps and plunger pumps. Primarily focused on the oil & gas industry, Finder pumps are also ideal for the nuclear energy, desalination, chemical, pharmaceutical and food markets.
With operations in Merate and Querceta, Italy, and Venissieux, France, Finder maintains are presence in more than 75 countries around the world. This strategic acquisition will strengthen PSG’s already renowned status in the oil & gas market, currently served by Blackmer pumps, Maag Industrial Pumps, and its more recent Ebsray acquisition.
Dover, headquartered in Illinois, is a diversified global manufacturer with annual revenues of over $8 billion. As part of Dover’s Engineered Systems segment, PSG is a global leader in pumps, systems, and related technologies and maintains facilities in eight counties around the world. Finder will operate as a business unit of PSG providing engineered pumps, spare parts and related services for critical applications in oil & gas, power generation and general industrial processes.
Source: PSG Dover