OPW, a global leader in fluid handling solutions and a business unit within Dover’s Fluids segment, has signed a definitive agreement to acquire all the outstanding shares of Liquip International headquartered in Smithfield, NSW, Australia. Liquip is a leading Australian designer and manufacturer of bulk liquid handling and storage solutions in the petroleum, aviation, and chemical markets.
“The acquisition of Liquip is another important step in the global growth strategy of OPW,” said OPW President David Crouse in a company announcement. “Liquip significantly strengthens OPW’s fluid handling position in Australia and throughout Asia Pacific. By combining our products, we create a truly best-in-class product portfolio meeting the unique requirements of our chemical and industrial and tank truck customers.”
Liquip expects to generate revenue of approximately USD $40 million in 2014. The transaction is subject to certain customary and other closing conditions, and is expected to close in the third quarter of 2014. Terms of the transaction were not disclosed.
OPW has 1,650 employees with manufacturing operations in North America, Europe, Brazil, China and India and sales offices around the world.