DOWNERS GROVE, IL — Diversified manufacturer Dover Corporation announced Tuesday that it has entered into a definitive agreement to acquire Em-tec GmbH, a designer and manufacturer of flow measurement devices that serve a wide array of medical and biopharmaceutical applications. Following the close of the transaction, Em-tec will become part of the PSG business unit within Dover's Pumps & Process Solutions segment.
Terms were not disclosed for the transaction, which is expected to close in the second quarter of 2020.
Em-tec is headquartered in Finning, Germany, and has a 30-year history of producing innovative flow measurement equipment used in connection with cardiac, vascular and transplant surgery, dialysis and "life support" procedures, automated bioprocess monitoring, and laboratory and industrial processes where flexible tubing is used.
"Em-tec has pioneered non-invasive flow measurement using the ultrasound transit-time principle and its devices have demonstrated the ability to deliver superior measurement results relative to competing offerings," Dover said.
The addition of Em-tec further expands Dover's reach into biopharma and other hygienic applications and enhances its portfolio of flow control technologies with flow rate sensors.
"We are excited to bring together Em-tec's flow measurement devices and PSG's Quattroflow pump technology to expand our offering to our customers in biopharma and medical applications," said Richard Tobin, Dover's president and CEO. "This transaction is another step in advancing Dover's strategy of enhancing the quality of our portfolio with attractive bolt-on acquisitions that offer profitable growth runway and create value for our shareholders."
With 2019 sales of approximately $7 billion, Dover supplies equipment and supplies, specialty systems, consumable supplies, software and digital solutions and support services through five operating segments: Engineered Products, Fueling Solutions, Imaging & Identification, Pumps & Process Solutions and Refrigeration & Food Equipment. Dover is headquartered in Downers Grove, IL and has approximately 24,000 employees.