Stabilus SE Acquires DESTACO Business from Dover Corporation
October 16, 2023
Stabilus SE has signed an agreement to acquire the DESTACO business from Dover Corporation, a transaction expected to close in the first half of 2024 subject to customary approvals. DESTACO, headquartered in Auburn Hills, Michigan, supplies industrial automation, workholding and robotic tooling and generated $213 million in revenue in 2022 with ~650 employees; Stabilus says the deal significantly strengthens its Industrial Automation capabilities and will positively impact adjusted EBIT upon consolidation.
- Buyers
- Stabilus SE
- Targets
- DESTACO (business of DESTACO acquired from Dover Corporation)
- Sellers
- Dover Corporation
- Industry
- Manufacturing
- Location
- Michigan, United States
- Transaction Type
- Buyout
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