Dover Completes Sale of Crenlo and Paladin

September 30, 2011—Dover Corporation, Downers Grove, Ill., has completed the sale of Crenlo, LLC, Rochester, Minn., a leading maker of cab enclosures for equipment, and Paladin Brands, Cedar Rapids, Iowa, North America's largest independent manufacturer of attachment tools, to KPS Capital Partners, LP, New York, N.Y. The sale is part of Dover’s strategy to reduce its exposure to construction-related markets.

 

 

Dover president and CEO Bob Livingston said that although both Crenlo and Paladin have strong market positions, their sale is important in Dover's long-term vision of strengthening its portfolio, improving margins and reducing exposure to construction related end-markets. The transaction also provides additional financial capacity to continue Dover's expansion plans, said Livingston.