Industrial products maker Dover Corp (NYSE:DOV) has entered into a definitive agreement to sell its De-Sta-Co business (DESTACO), which is part of its Engineered Products segment, to Stabilus SE (OTC:SIUAF). The enterprise value of the deal totals $680 million.
DESTACO designs, manufactures, and markets workholding and automation components for industrial automation applications. It was acquired by Dover in 1962. In 2022, DESTACO generated revenues of $213 million.
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