US-based Dover Corp. buying polymer melt specialist Maag Group

By Michael Lauzon
Correspondent

Published: February 13, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions Machinery
Companies & Associations

DOWNERS GROVE, ILL. (Feb. 13, 10:05 a.m. ET) — Polymer melt technology specialist Maag Group is slated to become part of another fluids oriented business within Dover Corp.

Maag and Dover announced Feb. 13 that they have signed a definitive agreement for undisclosed terms.

Maag is a leader in gear pumps, pelletizers and filtration systems for plastics, chemicals and other industries. Maag will become part of the Pump Solutions Group, a business unit within Dover’s Fluid Solutions platform.

Maag Group was established in 2010 through the merger of Maag Pump Systems and Automatik Plastics Machinery. Maag Group has more than 500 employees and logged sales of about 130 million euros ($172 million) for the year ended Dec. 31. It is based in Zurich, Switzerland, with offices in Germany, the United States, France, Italy, Singapore, Malaysia, Taiwan, China and Brazil.

Maag has been owned by Scottish industrial investor Clyde Blowers Capital and Swiss industrial investor CGS Management.

Downers Grove-based Dover is a multi-billion dollar, diversified global manufacturer. Its four major operating segments are Communication Technologies, Energy, Engineered Systems and Printing & Identification. It employs more than 33,000. The firm is traded on the New York Stock Exchange.

Dover’s Pump Solutions Group makes positive displacement pumps and supporting technologies and manages locations in the United States, France, Germany, India and China.

“The acquisition of Maag further supports our strategic goal of deploying capital in our key growth spaces and will enhance our overall fluids position through the expansion of [the Pump Solutions Group] product portfolio and technological depth within its core markets of chemicals and petrochemicals,” stated Dover President and CEO Bob Livingston, in a news release.

The parties expect to finalize the purchase at the end of the first quarter of 2012.

“The Maag Group has been an excellent investment for Clyde Bowers Capital and represents an excellent result for the team and our investors,” noted Clyde Bowers Chairman and CEO Jim McColl in a news release. “Since acquiring Maag Pump Systems from Textron in 2008, we have delivered on our strategy to grow the business both organically and through M&A, and in particular, the successful merger with Automatik Plastics Machinery.”


Comments

US-based Dover Corp. buying polymer melt specialist Maag Group

By Michael Lauzon
Correspondent

Published: February 13, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Core Molding buys CPI Binani assets, adds markets, D-LFT capabilities

March 20, 2015 1:20 pm ET

Core Molding Technologies Inc. is expanding its thermoplastics capabilities with the acquisition of substantially all the assets of CPI Binani Inc.,...    More

Image

Proposed Cardia-Stellar merger labeled 'not fair,' but still 'reasonable'

March 20, 2015 10:34 am ET

If the proposed merger of two Australian bioplastics companies goes ahead, the new company will be called Secos Group Ltd. and have annual sales of...    More

Image

Transilwrap buys Clear Focus, expands in advertising films

March 20, 2015 10:03 am ET

Film extruder Transilwrap Company Inc. has bought Clear Focus Imaging, a manufacturer of printable plastic films for large-scale display advertising...    More

Image

Citadel purchase will nearly double A. Schulman's US sales

March 19, 2015 12:06 pm ET

Materials firm A. Schulman Inc. has kept its buying streak alive with its biggest deal yet — acquiring compounder and composites maker Citadel P...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events