Page 1

Dover Announces Two Acquisitions Focused On Clean Energy Press Release << Dover Announces Two Acquisitions Focused On Clean Energy Conference call scheduled for 9:00 A.M. Eastern Time ( 8:00 A.M. Central Time ) on December 17 , 2021 DOWNERS GROVE , Ill . , Dec. 16 , 2021 / PRNewswire / -- Dover ( NYSE : DOV ) today announced that it has completed the acquisition of Acme Cryogenics , Inc. ( " Acme " ) for $ 295 million in cash , and that it has entered into a definitive agreement to acquire Engineered Controls International , LLC ( " RegO " ) for $ 631 million in cash , subject to customary purchase price adjustments . Additionally , the RegO acquisition includes tax step - up benefits with a net present value of approximately $ 35 million . Both businesses will become part of the OPW Global ( " OPW " ) operating unit within Dover's Fueling Solutions segment . Acme , established in 1969 and headquartered in Allentown , PA , and RegO , established in 1918 and headquartered in Elon , NC , are well - established and growing providers of highly - engineered , mission - critical components and services that facilitate the production , storage , and distribution of cryogenic gases used in a diverse set of applications . The businesses supply engineered components such as valves , regulators , vacuum jacketed piping , fittings , safety devices , liquefied natural gas fueling components , and other specialty flow control devices to blue chip customers from a variety of end - markets exposed to high secular growth trends . Acme employs approximately 205 people and is expected to generate approximately $ 70 million in sales in full year 2021 , and RegO employs approximately 725 people and is expected to generate approximately $ 210 million in sales in full year 2021. Acme has generated double - digital average annual revenue growth ( excluding impact of acquisitions ) over 2018-2021 , and RegO has delivered annualized growth in the high- single digits over the same period . Both businesses grew in 2020. The acquisitions are expected to be accretive to Dover's consolidated EBITDA margins , with additional significant synergy potential from leveraging Dover's operating scale and capabilities . Acme's and RegO's products are highly complementary to Dover's existing clean energy solutions , and will enhance our offerings for the hydrogen ( " H2 " ) , liquefied natural gas ( " LNG " ) , and liquefied petroleum gas ( " LPG " ) applications , as well as Dover's participation in the attractive cryogenic industrial gases end market . Upon closing of both acquisitions , the expanded clean energy applications within Fueling Solutions are