- Dover Corporation (DOV, Financial) to acquire SIKORA AG for €550 million in cash.
- SIKORA reported approximately €100 million in revenue in 2024 with double-digit growth.
- The acquisition is expected to close in Q2 2025, pending regulatory approvals.
Dover Corporation (DOV) has announced its definitive agreement to acquire Germany-based SIKORA AG for €550 million. SIKORA, established in 1973, specializes in providing precision measurement, inspection, and control solutions, mainly servicing industries such as wires, cables, hoses, tubes, sheets, optical fibers, and plastics. With this strategic acquisition, SIKORA will be integrated into Dover's MAAG operating unit within the Pumps & Process Solutions segment.
SIKORA has shown a robust financial performance, generating approximately €100 million in revenue in 2024 and maintaining a double-digit organic growth rate over the past three years. The company's growth has been primarily driven by the increasing demands for electrification, specifically in high-performance applications like data centers.
The acquisition is set to enhance Dover's market presence by allowing the MAAG unit increased exposure to key adjacent markets, providing significant cross-selling opportunities. SIKORA's precision measurement and control technologies bolster Dover's industrial automation capabilities, and their positioning in the electrification and data center markets is particularly valuable given the global trend towards increased digitalization and data center construction.
This transaction aligns with Dover's strategy to acquire growth-and-margin accretive businesses, adding SIKORA's innovative solutions to its portfolio aimed at enhancing growth opportunities, market reach, and profitability. The deal is expected to close in the second quarter of 2025, subject to regulatory approvals and customary closing conditions.
