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Dover to Sell DESTACO Business Unit

PR Newswire - Wed Oct 11, 2023

DOWNERS GROVE, Ill., Oct. 11, 2023 /PRNewswire/ -- Dover (NYSE: DOV) today announced that it has entered into a definitive agreement to sell its De-Sta-Co business ("DESTACO"), which is part of Dover's Engineered Products segment, to Stabilus SE (WKN: STAB1L, ISIN: DE000STAB1L, "Stabilus") for $680 million enterprise value, subject to customary post-closing adjustments. DESTACO designs, manufactures, and markets workholding and automation components for industrial automation applications, and generated revenue of $213 million in 2022. DESTACO was acquired by Dover in 1962.

Read more at prnewswire.com

Provided Content: Content provided by PR Newswire. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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