Dover on Acquisition Spree

Dover Corp. (DOV - Analyst Report), a diversified manufacturer of industrial products, announced that Hill PHOENIX, its operating company has acquired Barker Co. Ltd. and its sister company, Barker Sales and Service, Inc. (the Barker Co.). The Barker Co. specializes in manufacturing refrigerated, non-refrigerated and hot display cases. However, financial terms of the transaction were not disclosed.
 
The acquisition is expected to be a strategic fit as it puts Hill PHOENIX in a better position to serve customers in its Specialty Products division. In addition, Barker Company's innovative design capabilities and broad specialty product line coupled with the impressive technology and product engineering in combination with the performance of Hill PHOENIX represents a real opportunity for Hill PHOENIX to expand its presence in the rapidly-growing specialty merchandiser segment.
 
In the past three years Dover has been focusing on growth through strategic acquisitions. During the second quarter, the company acquired certain assets and intellectual property of Tyler Refrigeration, through Hill PHOENIX again. This acquisition is expected to increase the annual revenue of Hill PHOENIX by 30%-40%. Dover is currently reviewing various other acquisition opportunities, which will remain a key component of its growth strategy.
 
New York-based Dover is an industrial conglomerate producing a wide range of specialized industrial products and manufacturing equipment. Hill PHOENIX Inc., an operating company of Dover , primarily designs and manufactures commercial refrigerated display merchandisers and specialty products, refrigeration systems, integrated power distribution systems and walk-ins.

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