Downer’s Grove, Illinois-based Dover, a diversified global manufacturer and solutions provider, said Dec. 15 it has completed its acquisition of Witte Pumps & Technology GmbH, a manufacturer of precision gear pumps.
Witte will become part of the Maag business unit within Dover’s Pumps & Process Solutions segment, Dover said. Financial terms of the deal were not announced.
Witte plans to generate approximately €40 million ($42.4 USD) in revenue in 2022 and has a strong order backlog for 2023, according to the announcement.
“The acquisition of Witte complements and expands Maag’s product and technology offering, improves our geographic reach, and provides access to new customer segments,” said Maag President Ueli Thürig. “The integrated business will be better positioned to serve our global customer bases from 22 worldwide locations, and better enable us to drive strong growth grounded in the technological leadership that Maag and Witte are known for globally. Additionally, we expect to drive significant cost efficiencies through our integrated and larger scale footprint.”
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