Dover acquires Accelerated Companies
Dover has acquired Accelerated Companies, a supplier of artificial lift and fluid handling solutions to oil and gas production markets, for $430 million.
Headquartered in The Woodlands, Texas, Accelerated's core offerings include electric submersible pumps, hydraulic jet pump systems, gas lift systems, surface pumping and modular process systems for filtration, separation, heating and other fluid handling operations. Accelerated will become part of Dover Artificial Lift, a business unit within Dover's Energy segment.
Accelerated's innovative offerings in ESP and jet pump technologies complement Dover Artificial Lift's well-established position in systems, components and automation for rod lift, gas lift, plunger lift, progressing cavity pump applications and surface production. "With this acquisition, Dover establishes a leading position in the fast-growing U.S. shale well development market and is positioned for future growth in domestic and international markets," according to a company press release.
"We are excited about the acquisition of Accelerated," said Robert A. Livingston, president and chief executive officer of Dover. "The technology Accelerated brings to our portfolio, combined with our existing rod lift products, allows us to offer our customers the right artificial lift solutions for the complete life of their wells. Accelerated's strong double-digit growth over the past few years has been driven by the company's culture of innovation and customer engagement. Together, Dover Artificial Lift and Accelerated are very well positioned to capitalize on strong production market dynamics."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
