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Dover Acquires Marshall Excelsior, a Leading Provider of Mission-Critical Cryogenic and Flow Control Components

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DOWNERS GROVE, Ill., July 22, 2024 /PRNewswire/ — Dover (NYSE: DOV) today announced that it has acquired Marshall Excelsior Company (“MEC”) for $395M in cash. MEC will become part of the OPW Global (“OPW”) operating unit within Dover’s Clean Energy & Fueling segment (“DCEF”).

Founded over 48 years ago and headquartered in Marshall, Michigan, MEC supplies highly-engineered flow control components for transportation, storage, and use of liquified petroleum gas and other industrial gases. MEC’s comprehensive portfolio of fittings, adapters, valves, regulators, pigtails, gauges, and related accessories drives differentiated performance to meet the exacting safety, quality, and reliability standards of its customers’ mission-critical applications. The business generated approximately $120 million in revenue in 2023.

MEC is a highly-complementary acquisition to OPW. It serves the liquefied petroleum gas and cryogenic markets while adding access to new transport vehicle remote monitoring and severe service valve offerings that expand OPW’s participation in the compressed and liquefied gases industry.

“We are very excited about the acquisition of MEC,” said Kevin Long, OPW’s President. “MEC’s innovative solutions expand the range of our offerings to our customers and position us to drive future growth and synergies. This strategic move enhances our technological capabilities and positions us at the forefront of innovation in the cryogenic and industrial gas markets.”

Dover’s President and Chief Executive Officer, Richard J. Tobin, said, “The acquisition of MEC enhances Dover’s portfolio and continues the strategic evolution of DCEF into a growth-exposed set of critical components businesses catering to clean energy applications. In addition to strengthening our clean energy platform, MEC is a strong business model fit with Dover due to its significant recurring revenue of mission-critical components, differentiated product attributes with clear regulatory and safety-driven tailwinds, and large installed base with a diverse blue-chip customer base. We are excited about executing on our attractive value-creation plan with this acquisition.”

About Dover:

Dover is a diversified global manufacturer and solutions provider with annual revenue of over $8 billion. We deliver innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions and Climate & Sustainability Technologies. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for over 65 years, our team of approximately 25,000 employees takes an ownership mindset, collaborating with customers to redefine what’s possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under “DOV.” Additional information is available at dovercorporation.com.

Forward-Looking Statements:

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the anticipated effects of the transaction. All statements in this document other than statements of historical fact are statements that are, or could be deemed, “forward-looking” statements. Forward-looking statements are subject to numerous important risks, uncertainties, assumptions, and other factors, some of which are beyond the Company’s control. Factors that could cause actual results to differ materially from current expectations include, among other things, general economic conditions and conditions in the particular markets in which we operate, changes in customer demand and capital spending, competitive factors and pricing pressures, our ability to develop and launch new products in a cost-effective manner, and our ability to realize synergies from newly acquired businesses. For details on the risks and uncertainties that could cause our results to differ materially from the forward-looking statements that may be contained herein, we refer you to the documents we file with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These documents are available from the SEC, and on our website, www.dovercorporation.com. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor Contact:                 

Media Contact:

Jack Dickens                           

Adrian Sakowicz

Senior Director – Investor Relations

Vice President – Communications

(630) 743-2566                           

(630) 743-5039

jdickens@dovercorp.com       

asakowicz@dovercorp.com

 

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SOURCE Dover

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Quidax Launches $125,000 Crypto Innovation Pitch, Partners with Moonshot for TC Battlefield

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57 mins ago

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September 27, 2024

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LAGOS, Nigeria, Sept. 27, 2024 /PRNewswire/ — Quidax and TechCabal have announced a partnership for this year’s TechCabal Battlefield competition. As part of this year’s competition Quidax has introduced a Crypto Innovation Pitch for the most promising African crypto startup. This pitch is for Africa-focused seed to early-growth stage crypto and blockchain startups that are creating impactful solutions for African markets.

In conjunction with Asset Chain, Quidax will award the selected startups $15,000 in funding. In addition to the funding, Quidax is collaborating with Huawei, Fincra, and Asset Chain to offer $110,000 worth of startup support credits. The support will be in the form of $80,000 worth of cloud services credit from Huawei, $20,000 worth of payment processing credit from Fincra, and $10,000 in crypto tokens from Asset Chain.

The top 5 crypto startups chosen from applications will get a chance to pitch at Tech Cabal’s Moonshot event between 9th – 10th, October, 2024 at the Eko Convention Centre, Lagos, Nigeria. The winning startup will be announced and awarded on the TC Battlefield stage at the Moonshot event.

Interested crypto startups can apply here for the Crypto Innovation Pitch.

TechCabal’s Battlefield, first held in 2014 and is now in its 10th year. It involves a rigorous selection process which will culminate in a high-stakes pitch at the Moonshot conference.

About Quidax

Quidax is an African-founded cryptocurrency exchange that makes it easy for anyone to buy, sell, store and transfer cryptocurrencies.Quidax additionally enables OTC trading and offers a Crypto API. The Crypto API enables businesses to build and offer crypto products.

About Moonshot

Moonshot by TechCabal is TechCabal’s flagship event that brings together industry leaders and key players in the African tech ecosystem. The event is an opportunity for tech enthusiasts to network, collaborate, and share ideas that define the ecosystem.

Contact:
***@quidax.com

Photo(s):
https://www.prlog.org/13040687

Press release distributed by PRLog

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SOURCE Quidax

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“The Reckoning of Third-Party Risk Management” presented by Lori Frank, President and CEO, at UMACHA’s Navigating Payments Conference

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57 mins ago

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September 27, 2024

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Navigating Payments 2024 – Celebrating UMACHA’s past 50 years – Looking Back. Moving Forward.

MINNEAPOLIS, Sept. 27, 2024 /PRNewswire-PRWeb/ — Lori Frank, President & CEO of Argos Risk, joined the stage and presented her compelling insights on “The Reckoning of Third-Party Risk Management” at UMACHA’s Navigating Payments 2024 Conference in Brooklyn Center, Minnesota.

“It’s a privilege to contribute to this important conversation at such a milestone event,” said Frank. “Looking back at what we’ve learned, we can move forward with stronger, more resilient practices.”

 

Celebrating UMACHA’s 50-year legacy, this highly anticipated event drew key stakeholders across the payments industry. “Looking Back. Moving Forward.” was this year’s theme, which emphasized the historical progress and pivotal shifts in the landscape of payments while paving the way for innovation and forward-thinking strategies.

One pivotal shift is the complexity of third-party relationships and the need for comprehensive risk management. Lori Frank’s session, “The Reckoning of Third-Party Risk Management,” highlighted the rising significance of robust risk management strategies for organizations as they depend on external partners to support and optimize their operations.

Drawing from her extensive banking and risk management background, Frank’s session also emphasized the lessons learned from past challenges and the evolution of Third-Party Risk Management. She offered actionable strategies to assess, manage, and reduce vulnerabilities to safeguard against future third-party partnership risks.

“It’s a privilege to contribute to this important conversation at such a milestone event,” said Frank. “Third-Party Risk Management is more important than ever, and organizations must adapt to new risks and challenges that come with outsourcing and vendor relationships. Looking back at what we’ve learned, we can move forward with stronger, more resilient practices.”

UMACHA’s Navigating Payments Conference is a cornerstone event for professionals in the payments industry, offering thought leadership on pressing issues and providing invaluable insights into emerging trends and best practices. Frank’s presentation delivered valuable insights for attendees committed to enhancing their risk management capabilities while advancing industry standards.

About Argos Risk
Argos Risk is a leading provider of third-party risk intelligence solutions, helping organizations mitigate the risks associated with third-party relationships. The company offers innovative, easy-to-use solutions designed to assess and monitor the financial health, operational stability, and compliance standing of third-party vendors, partners, and customers. With a commitment to empowering businesses with actionable risk intelligence, Argos Risk continues to lead the way in Third-Party Risk Management.

Media Contact

Public Relations, Argos Risk, LLC, +1 (952) 446-7582, marketing@argosrisk.com, https://www.argosrisk.com/

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SOURCE Argos Risk, LLC

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Raintree Systems Accelerates Innovation and Growth with Strategic Appointment to Board of Directors

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2 hours ago

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September 27, 2024

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30-Year Tech and Healthcare Veteran, Bill Lucchini, to Advise on Driving Customer Value Through Automation and Efficiency

CHANDLER, Ariz., Sept. 27, 2024 /PRNewswire/ — Raintree Systems, inc., a leading rehabilitation therapy software provider backed by Serent Capital, announced today the appointment of Bill Lucchini to its Board of Directors.

This strategic addition comes at a pivotal time as Raintree continues its rapid growth and solidifies its position as a leader in technology solutions for physical therapy, occupational therapy, speech-language pathology, and multidisciplinary therapy practices.

Lucchini brings an outstanding track record in scaling healthcare technology solutions. As CEO of Nextech Systems, a prominent healthcare technology solution for specialty providers, Lucchini focused on customer-centric innovation that led to the company being the preeminent EHR and payments solutions in its specialties. Lucchini’s emphasis on creating meaningful workflow and efficiency benefits for its customers included AI-empowered patient journey innovations. He has also served as CEO of Dealer-FX Group, Inc., SVP and GM of Sophos Cloud, COO at OnForce, and held an impressive 16-year tenure at Intuit. His experience and expertise will help advise and accelerate Raintree’s product roadmap.

“We are thrilled to attract a leader of Bill’s caliber to our Board,” said Nick Hedges, CEO of Raintree Systems. “He is renowned for transforming Nextech through product innovation, including AI, that reset the bar for customer value. I am excited for the Board and I to have Bill as a close advisor as we chart a similar path at Raintree to redefine innovation in the rehab therapy EHR space.”

“I’m excited to work with Nick, the board, and the executive team to further Raintree’s mission to help therapy professionals provide better care and achieve superior outcomes for their patients,” said Lucchini. “Therapy professionals are making a difference for patients every day, and as an industry leader Raintree drives innovation that helps them focus on patient care while enabling them to grow and thrive. I look forward to working with all the great people at Raintree to leverage AI and other new technologies to do even more for our customers.”

About Raintree Systems 
Raintree is the preeminent platform for enterprise and mid-sized therapy provider organizations. With a proven track record of success and client satisfaction, Raintree provides solutions in patient engagement and communications, clinical documentation, revenue cycle management (RCM), and business intelligence/analytics for adult and pediatric physical therapy, occupational therapy, speech therapy, and multidisciplinary practices across all treatment settings. Raintree clients make up over 2,500 implementations nationwide and more than 25,000 users daily. Raintree leads the industry in compliance and security, offering the first ONC-certified EHR designed specifically for rehabilitation therapy. To learn more about Raintree, visit https://www.raintreeinc.com/

Contact: 
Sorella Andersen
sorella.andersen@raintreeinc.com 

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SOURCE Raintree Systems

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