The Dover Corporation has signed a definitive agreement to acquire Leistung Engineering Pvt. Ltd which will become part of OPW Fluid Transfer Solutions within Dover's Clean Energy & Fuelling segment.
Headquartered in Ahmedabad, India, Leistung specialises in the design and manufacture of cryogenic valves, including globe, check and control valves engineered for liquefied natural gas, industrial gas, and other low-temperature applications, along with a complementary portfolio of diaphragm valves, filtration systems, and related products.
Leistung has driven double-digit organic growth over the past three years through continuous research and development, new product introductions, and a talented engineering workforce.
Leistung's modern facility will serve as a highly strategic manufacturing hub for Dover in India and is well positioned to capitalise on robust investments in LNG terminals and natural gas pipeline infrastructure in the country, which are driving sustained demand for cryogenic flow control solutions.
The facility has substantial capacity for future operational expansion opportunities.
OPW president, David Malinas, said this acquisition strengthens the company’s ability to serve the rapidly growing Indian market while expanding its global manufacturing footprint.
It will also provide OPW with advanced capabilities in cryogenic solutions, positioning OPW to deliver greater value to customers worldwide.
The transaction is expected to close in the fourth quarter. The terms of the transaction were not disclosed.
Dover has a 70-plus year history as a global manufacturer with annual revenues topping $US8 billion.