NEW YORK, Nov. 17 /PRNewswire-FirstCall/ — Dover Corporation (NYSE: DOV) announced today that Hill PHOENIX, a Dover operating company in its Engineered Systems segment and a leading designer and manufacturer of commercial refrigeration systems, has acquired Barker Company, Limited and its sister company, Barker Sales and Service, Inc. (collectively the “Barker Company”). The Barker Company, with estimated full-year 2009 revenue of $70 million, is based in Keosauqua, Iowa and specializes in manufacturing refrigerated, non-refrigerated and hot display cases. Financial terms of the transaction were not disclosed.
The Barker Company will become part of the Hill PHOENIX Specialty Products Division. This acquisition will complement and dramatically increase Hill PHOENIX’s specialty product offerings and enable Hill PHOENIX to meet increasing demand for more specialized and highly customized products in the fast-growing specialty merchandiser segment.
Ray Hoglund, the President of Dover’s Engineered Systems segment, stated, “This acquisition is an excellent fit and it puts Hill PHOENIX in a better position to serve customers in its Specialty Products division. Furthermore, combining Barker Company’s innovative design capabilities and broad specialty product line with the impressive technology, product engineering and performance of Hill PHOENIX represents a real opportunity for Hill PHOENIX to expand its presence in the rapidly-growing specialty merchandiser segment.”
Robert A. Livingston, Dover’s president and chief executive officer said, “Over the past three years Hill PHOENIX has been focused on growing its business and this acquisition, similar to the acquisition of Tyler Refrigeration in May, is a key step toward advancing that goal. As a Company, Dover will continue to pursue synergistic add-on acquisitions like these that leverage our portfolio companies’ strengths and enhance value for Dover and its shareholders.”
Source: Dover Corporation
