Dover announced that it has entered into a definitive agreement to sell its De-Sta-Co business, which is part of Dover’s Engineered Products segment, to Stabilus SE for $680M enterprise value, subject to customary post-closing adjustments. Destaco designs, manufactures, and markets workholding and automation components for industrial automation applications, and generated revenue of $213M in 2022. Destaco was acquired by Dover in 1962. The transaction is expected to close in the first half of 2024, subject to customary closing conditions, including receipt of regulatory approvals and the finalization of certain local transactions.
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