Dover Completes Acquisition of JK Group SPA
DOVER COMPLETES ACQUISITION OF JK GROUP SPA
Acquisition expands Dover's leadership in the fast growing digital textile printing market
Downers Grove, IL, October 22, 2015 - Dover (NYSE: DOV) today announced that it has completed the previously announced acquisition of JK Group SPA ("JK"), which will become an operating company within the Printing & Identification platform of Dover's Engineered Systems segment.
Headquartered outside Milan in Novedrate, Italy, JK is a leading manufacturer of innovative inks and consumables serving the textile printing market. The addition of JK will expand Dover's leadership in digital textile printing, which began with the acquisition of MS Printing Solutions. JK's brands include Kiian Digital, J-Teck and Sawgrass Industrial. The acquisition will provide opportunities to share and leverage technology across the Printing and Identification platform. The textile digital printing market is undergoing rapid growth as textile producers continue transition from analog to digital. Digital printing technology has enabled market trends such as fast fashion, by allowing producers to shrink time to market while reducing costs.
"Dover considers the digital printing market one of our most important growth areas, and adding the leader in dye sublimation ink to our family makes us even more excited about the future," said Andy Fincher, Engineered Systems' President and CEO. "We strongly value the JK team and are extremely impressed with the company they have built, including JK's strong technology, expansive sales channel and commitment to the customer."
Dover is a diversified global manufacturer with annual revenues in excess of $7 billion. We deliver innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover combines global scale with operational agility to lead the markets we serve. Recognized for our entrepreneurial approach for 60 years, our team of 26,000 employees takes an ownership mindset, collaborating with customers to redefine what's possible. Headquartered in Downers Grove, Illinois, Dover trades on the New York Stock Exchange under "DOV." Additional information is available at www.dovercorporation.com.
JK Group, with headquarters in Novedrate, Italy, is an innovative digital ink company serving the textile market. JK serves its global customers under the three independent brands of Kiian Digital, J-Teck, and Sawgrass Industrial. JK is a recognized leader in dye sublimation and pigment ink technologies for textile printing. Additional information is available on the company's website at www.j-k-group.com.
Forward Looking Statements:
Dover makes information available to the public, orally and in writing, which may use words like "anticipates," "expects," "believes," "indicates," "suggests," "will," "plans" and "should," which are "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Dover refers you to the documents that it files from time to time with the Securities and Exchange Commission, such as its reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of risks and uncertainties that could cause its actual results to differ materially from its current expectations and from the forward-looking statements contained in this press release. Dover undertakes no obligation to update any forward-looking statement.
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