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

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6 months ago

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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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More than 85 Governments to Gather in Riyadh to Lead Global Action on Minerals at Fourth Future Minerals Forum

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36 minutes ago

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January 11, 2025

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RIYADH, Saudi Arabia, Jan. 11, 2025 /PRNewswire/ — Over 85 governments from key mineral-producing and consumer nations, including 16 countries from the leading G20 economies, and 50 ministers and 13 vice ministers – have confirmed they will join the 2025 FMF Ministerial Roundtable on January 14, 2025.

The Ministerial Roundtable, a multi-stakeholder, government-led initiative, is the traditional opener of FMF, spurring international action to increase investment in mineral supply and build capacity in the Super Region of Africa, Western and Central Asia, and other supply regions. It is set to be the largest and most senior gathering of mineral resources officials in the world

Discussion will cover progress made over the past year on the three Ministerial Roundtable initiatives:

Development of an International Critical Minerals FrameworkEstablishment of Centers of Excellence to build capacity in sustainability (Morocco), talent development (South Africa), and technology innovation (Saudi Arabia).Advancements in Certification Systems to ensure responsible mineral sourcing.

His Excellency Khalid Al-Mudaifer, the Vice-Minister for Mining Affairs of Saudi Arabia’s Ministry of Industry and Mineral Resources, emphasizes that, “The meeting is an important step towards achieving sustainable development in the minerals sector globally. It is an ideal platform for delivering solutions, developing legislation on best practices in the field of sustainable mining, and exploring ways to invest in mining projects to achieve economic and social development in producing countries.”

Joining him are high-profile leaders, including ministers from supplier and financing like Brazil, South Africa, DRC, India, Egypt, Italy, Nigeria, Qatar, Pakistan, Kazakhstan, Uzbekistan, Malaysia, Thailand, Morocco, Indonesia, France, USA and the United Kingdom, discussing opportunities for global cooperation.

 “This year, discussions will seek to enhance collaboration between governments, industry, and communities to drive more investment in minerals, and development through value addition in supplier countries. We want to support the pressing need for sustainable mining practices, resilient supply chains, and value-driven partnerships in the minerals industry.”

Importantly, the outcomes of the Ministerial Roundtable are not confined to the event itself but form an ongoing, year-round program. Regional Coordination Groups will continue to drive the implementation of key initiatives.

“FMF is emerging as the largest global hub for minerals collaboration and action – no other platform brings together government ministers and senior industry leaders at this scale.” Al-Mudaifer concluded.

 

SOURCE Future Minerals Forum

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LANDI Global Unveils Flagship Cx20: Elevating business efficiency and customer experience with a next-generation Windows-powered terminal

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2 hours ago

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January 11, 2025

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SINGAPORE, Jan. 11, 2025 /PRNewswire/ — LANDI Global proudly announces the launch of the Cx20 terminal, our flagship next-generation smart Windows Desktop POS.

Engineered for businesses that seek advanced technology and refined design, the Cx20 delivers top-tier performance with seamless compatibility. This powerful Desktop POS empowers users to handle even the most challenging tasks with confidence, making it ideal for demanding environments.

Innovation driven by market needs

The Cx20 is designed to meet the growing global demand for Windows-based Desktop POS.

With a large Windows-installed base still in use and the end of support for Windows 10, many businesses are seeking an easy migration path to Windows 11-compatible POS solutions. The Cx20 integrates seamlessly with existing Windows-based applications and back-end systems, ensuring minimal disruption and maximum compatibility.

Build for Business Demand  

The Cx20 is built to meet the demands of businesses with its powerful performance, robust connectivity, and user-friendly design.

Equipped with advanced industrial control chips, running on Windows 11 IoT LTSC, the Cx20 benefits from Microsoft’s long-term support of up to 10 years+, delivering consistent performance for high-demand workloads and efficient multitasking.

Connectivity is seamless, with Wi-Fi 6e and 1000M Ethernet support, ensuring constant, reliable connectivity essential for uninterrupted business operations.

Its 15.6″ IPS with 1920×1080 resolution, multi-touch display ensures crystal-clear visuals and an intuitive user experience.

Outstanding performance and customer benefit

The Cx20 is powered by a Hexa-core Intel® i3-1215U processor, reaching speeds up to 4.4GHz. With compatibility for Windows 11 IoT, it excels at handling high-demand workloads and multitasking, making it the ideal POS solution for businesses.

Memory options range from 8GB + 256GB as a base, ensuring versatility to meet various operational needs while maintaining a seamless experience for complex tasks. The Cx20 is equipped with an integrated 80mm thermal printer featuring auto-cutter technology, ensuring efficient printing, and LANDI’s patented auto-recovery technology automatically resolves paper jams for uninterrupted service.

Distinct competitive advantages

The Cx20 stands out with its perfect blend of cutting-edge design and high-performance functionality.

Equipped with the latest Intel® processors and generous memory options, it delivers smooth operation and efficient multitasking, making it ideal for demanding retail and hospitality environments.

Cx20 features an ultra-slim triangular base for added stability and a sleek profile. With a body thickness of 4mm and a screen thickness of 8mm, it combines state-of-the-art technology.

Visit LANDI Global for more information!

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SOURCE LANDI Global

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CSI Companies Acquires MedSys Group, Expanding Healthcare IT Services

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2 hours ago

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January 11, 2025

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CSI Companies, a leading provider of staffing, consulting, and workforce management services across the Healthcare IT industry, acquired MedSys Group, a premier Healthcare IT consulting firm based in Plano, Texas. This strategic acquisition will significantly enhance CSI’s capabilities in the Healthcare IT market, providing comprehensive solutions to a wider range of clients.

JACKSONVILLE, Fla., Jan. 11, 2025 /PRNewswire-PRWeb/ — CSI Companies, a leading provider of staffing, consulting, and workforce management services across the Healthcare IT industry, acquired MedSys Group, a premier Healthcare IT consulting firm based in Plano, Texas. This strategic acquisition will significantly enhance CSI’s capabilities in the Healthcare IT market, providing comprehensive solutions to a wider range of clients.

“We are thrilled to welcome MedSys Group to the CSI family,” said Chris Flakus, CEO at CSI Companies. “This acquisition bridges the gap in healthcare organizations and provides our clients with the right tools and strategies to increase operational efficiencies and the quality of patient care.”

MedSys Group brings extensive expertise in Healthcare IT consulting, implementation, and support. Together, the combined entity will offer a more robust suite of solutions, including enhanced consulting, expanded implementation services, and comprehensive support. These offerings will provide strategic guidance, optimize operations, ensure seamless system integration, and improve proactive maintenance and issue resolution.

This acquisition aligns with CSI Companies’ strategic vision to bring innovative solutions that drive healthcare organizations forward. By combining the strengths of CSI Companies with MedSys Group, service delivery for our healthcare IT clients will be even greater.

“We are thrilled to welcome MedSys Group to the CSI family,” said Chris Flakus, CEO at CSI Companies.

“This acquisition bridges the gap in healthcare organizations and provides our clients with the right tools and strategies to increase operational efficiencies and the quality of patient care.”

Alan Kravitz, CEO at MedSys Group, added, “This unification will enable us to offer our clients a broader range of services and resources. We share a common commitment to excellence, innovation, and customer satisfaction, making this a natural fit.”

About CSI Companies

CSI Companies is a leading workforce solutions provider headquartered in Jacksonville, Florida. Founded in 1994, CSI Companies has expanded over the years to include a comprehensive range of services for diverse healthcare organizations. CSI Companies was acquired by Recruit Holdings in 2010, one of the world’s largest providers of HR services and the parent company of Indeed and Glassdoor. As a boutique division of Recruit, CSI has the resources necessary to scale with any enterprise, yet is small enough to maintain the agility, personal service, and remarkable experience it’s become known for since its founding.

About MedSys Group

Founded in 1995, MedSys Group is a leading Healthcare IT consulting firm driven by a passion for improving patient care. Specializing in solving complex healthcare IT challenges and aligning optimal solutions between organizations, patients, and communities, Medsys is dedicated to closing the gaps between IT systems and patient care. The team at Medsys Group defines its success by the success of its clients, fostering strong relationships, and partnering with some of the nation’s top healthcare companies.

Shared Values

Both CSI Companies and MedSys Group share a strong commitment to:

Customer Focus: Delivering exceptional value and exceeding client expectations.Innovation: Embracing cutting-edge solutions to drive business growth.Collaboration: Fostering strong partnerships with clients and employees.Excellence: Striving for the highest standards of quality and service.

To learn more visit CSICOMPANIES.COM

Media Contact Information

Samantha Sotter

Director of Marketing

ssotter@csicompanies.com

904.930.4388

Media Contact

Naomi Fraser, CSI Companies, 1 904.930.4388, nfraser@csicompanies.com, https://csicompanies.com/

View original content:https://www.prweb.com/releases/csi-companies-acquires-medsys-group-expanding-healthcare-it-services-302347135.html

SOURCE CSI Companies

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