M&A Deal Summary

thyssenkrupp Acquires Dover - Elevator Business

On November 24, 1998, thyssenkrupp acquired machinery company Dover - Elevator Business from Dover for 1.1B USD

Acquisition Highlights
  • This is thyssenkrupp’s 1st transaction in the Machinery sector.
  • This is thyssenkrupp’s largest (disclosed) transaction.
  • This is thyssenkrupp’s 1st transaction in the United States.
  • This is thyssenkrupp’s 1st transaction in New York.

M&A Deal Summary
Date 1998-11-24
Target Dover - Elevator Business
Sector Machinery
Buyer(s) thyssenkrupp
Sellers(s) Dover
Deal Type Divestiture
Deal Value 1.1B USD

Target

Dover - Elevator Business

New York, United States
Dover Elevator is the elevator division of Dover Corporation.

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Buyer(S) 1

Buyer

thyssenkrupp

Essen, Germany
Category Company
Founded 1811
Sector Diversified
Employees101,592
Revenue 37.5B EUR (2023)
DESCRIPTION

thyssenKrupp is a multinational conglomerate corporation operating two divisions Materials and Technologies. The Materials division produces carbon steel, and stainless steel, and as well as produces material services while the Technology Division focuses on elevator, plant and components technology, and marine solutions. thyssenKrupp was founded in 1811 and is based in Essen, Germany.

DEAL STATS #
Overall 1 of 17
Sector (Machinery) 1 of 4
Type (Divestiture) 1 of 5
State (New York) 1 of 3
Country (United States) 1 of 5
Year (1998) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-01 Triaton

Krefeld, Germany

Triaton is one of Germany's largest independent IT service providers.

Sell $464M

Seller(S) 1

SELLER

Dover

Downers Grove, Illinois, United States
Category Company
Founded 1947
Sector Machinery
Employees25,000
Revenue 8.4B USD (2023)
DESCRIPTION
Dover's corporate headquarters in Downers Grove, Illinois.
Dover's corporate headquarters in Downers Grove, Illinois.

Dover is a diversified manufacturer of industrial products. Dover delivers innovative equipment and components, specialty systems and support services through four major operating segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. Dover was founded in 1947 and is based in Downers Grove, Illinois.

DEAL STATS #
Overall 1 of 28
Sector (Machinery) 1 of 12
Type (Divestiture) 1 of 24
State (New York) 1 of 1
Country (United States) 1 of 23
Year (1998) 1 of 1
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 AVTEC Industries

United States

AVTEC Industries, Inc. is a manufacturer of foodservice equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-10 Somero Enterprises

Fort Myers, Florida, United States

Somero Enterprises is a manufacturer of technologically advanced concrete placing equipment and associated machinery. Somero Enterprises was founded in 1985 and is based in Fort Myers, Florida.

Buy -
Mergr

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