Dover Corp. buys Colder Products Co.
St. Paul, MN–Colder Products Co. announced Aug. 8 that it has been acquired by Dover Elec-tronics, a subsidiary of Dover Corp. Colder will join the Components Group within Dover Elec-tronics. Colder, which expects sales of nearly $50 million in 2005, according to Dover, designs and manufactures plastic quickdisconnect couplings and specialized liquid and gas handling de-vices for low pressure plastic tubing connections. Dover is a diversified industrial manufacturer with $6 billion in annualized revenues from operating companies that manufacture specialized in-dustrial products and equipment. Other Dover companies include Dialectric Laboratories, Nova-cap, and Kurz-Katsch, as a designer and manufacturer of highly engineered products for indus-tries including instrumentation, biopharmaceutical, automotive, military, and medical.
Mike Lyon, Colder founder and chairman, said, “I am pleased with the company’s transition to Dover and enthused that Dover’s philosophy and culture of operating company autonomy will encourage the Colder management team to continue their practice of technical innovation and customer focus.”
Growth in radio frequency identification for secure connections will continue, suggested Gary Rychley, president of Colder Products Co., noting, “As a part of Dover Corporation, Colder will be able to make further investments into growth areas, such as RFID and the biopharmaceutical market, as well as further strengthen its presence in life sciences. I look forward to playing a key role in this development.”
Bob Livingston of Dover Electronics, who will have oversight responsibility for Colder, added, “Colder excels in offering value solutions for demanding applications to their customers and will be a great complement to our other component companies. Colder has a very strong management team and a culture of service and innovation whose strong presence in life sciences/medical ap-plications offers opportunities for continued growth.”
Terms of the transaction were not part of the announcement.
Edited by Mark T. Hoske, Control Engineering
https://www.colder.com https://www.dovercorporation.com
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