Colder Products Co., a designer and manufacturer of plastic quick-disconnect couplings for hoses, has a new owner.
Dover Electronics, a division of publicly held Dover Corp. of New York, announced the deal Aug. 5. Terms were undisclosed.
Colder President Gary Rychley said Dover will retain Colder's management and facilities.
``One of the philosophies of Dover is to keep the brand alive and keep the management team intact,'' he said in an Aug. 9 telephone interview.
Colder expects to post $50 million in 2005 sales. It employs 230 people, nearly 50 percent of them from St. Paul's Hmong population. ``We have a lot of first-generation Americans,'' Rychley said.
Piper Jaffray & Co. helped handle the sale, he said.