Pump Solutions Group (PSG), a business unit within the Engineered Systems segment of Dover Corp., announced it has signed a definitive agreement to acquire the Maag Group headquartered in Zurich, Switzerland. The acquisition includes Maag Pump Systems, Automatik Pelletizing Systems and Maag Filtration Systems.
The Maag Group will operate as a business unit within PSG, seeking to provide enhanced customer value and shareholder return by leveraging the synergies of the businesses. Maag posted 2011 revenue of approximately $170 million. The transaction is subject to customary regulatory approvals, and is expected to close around the end of the first quarter of 2012. Terms of the transaction were not disclosed.
Maag is a global leader in premium external gear pump technology, pelletizing systems and engineered integrated solutions for the polymer, plastic, chemical and petrochemical industries. Maag has global operations in Switzerland, Germany, the U.S., Italy and China, as well as additional sales support offices in France, Singapore, Malaysia, Taiwan and Brazil.
Source: Dover Corp.
