Germany’s Stabilus announces acquisition of Dover’s DESTACO for $680 million

DESTACO acquired: Industrial and automotive supplier, Stabilus SE, has announced a major acquisition, agreeing to purchase a business unit from US manufacturer Dover Corp. The deal, valued at $680 million in enterprise value, was confirmed by both companies in separate statements on Wednesday.

Stabilus anticipates that this acquisition will yield an immediate positive impact on its adjusted earnings before interest and tax (EBIT) margin, boosting the company's sales. The German firm views Dover's DESTACO business as a strategic complement to its own offerings within the industrial sector.

What is DESTACO? 

DESTACO, a leading manufacturer and seller of manual, pneumatic, and robotic clamping and automation solutions, is a well-known brand in the industrial sector. DESTACO is part of Dover Corporation, a diversified global manufacturer with a portfolio of various industrial and commercial businesses.

The DESTACO brand specialises in developing, producing, and distributing high-performance automation, workholding, and remote handling solutions. Their products are crucial in enhancing efficiency and productivity across various industries like automotive, aerospace, consumer goods, electronics, and more.

The range of products offered by DESTACO includes clamps, grippers, indexers, transfer ports, robotic tooling, remote handling systems, and various automation solutions. These products are designed to firmly hold or handle workpieces during manufacturing processes, enabling precision, safety, and speed in industrial operations.

The acquisition is not expected to alter Stabilus' business figures and forecasts for fiscal 2023. The completion of the deal is anticipated in the first half of 2024, contingent upon meeting closing conditions, as stated by Stabilus.

(With Reuters inputs)