Acquisition expands OPW's market reach and product breadth
Cincinnati, OH, August 11, 2014 - OPW, a global leader in fluid-handling solutions and a business unit within Dover's (NYSE: DOV) Fluids segment, today announced it has signed a definitive agreement to acquire all the outstanding shares of Liquip International headquartered in Smithfield, NSW, Australia. Liquip is a leading Australian designer and manufacturer of bulk liquid handling and storage solutions in the petroleum, aviation, and chemical markets.
David Crouse, President of OPW commented, "The acquisition of Liquip is another important step in the global growth strategy of OPW. Liquip significantly strengthens OPW's fluid handling position in Australia and throughout Asia Pacific. By combining our products, we create a truly best in class product portfolio meeting the unique requirements of our chemical and industrial and tank truck customers."
Liquip expects to generate revenue of approximately USD $40 million in 2014. The transaction is subject to certain customary and other closing conditions, and is expected to close in the third quarter. Terms of the transaction were not disclosed.
OPW is a global leader in fluid handling, management, monitoring and control solutions for the safe and efficient handling and distribution of fuels and critical fluids. OPW designs and manufactures retail service station equipment, CNG, Hydrogen, and LPG nozzles and accessories, electronic tank gauge systems, fleet fuel control systems, car wash systems, loading arms, valves and dry-break couplings, tank truck equipment, and rail car valves and equipment. OPW has 1,650 employees with manufacturing operations in North America, Europe, Brazil, China and India and sales offices around the world.
Liquip is a leading provider of innovative fluid handling solutions, such as market leading API bottom loading couplers, loading arms, tank truck valves and fittings, electronic measurement systems for tank trucks, fuel filtration systems, and aviation fueling components and services.
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