Dover Acquires Compression Solutions Company, FW Murphy, for $530M

Dover has entered a definitive purchase agreement of $530 million for the acquisition of FW Murphy Production Controls, a subsidiary of Genisys Controls. The transaction will close in the final quarter of 2023, pending closing conditions such as the receipt of regulatory approvals. FW Murphy will join Dover’s precision components (DPC) unit within the pumps & process solutions division (DPPS).

Texas-based FW Murphy provides digital-twin predictive maintenance and performance optimization components, solutions, and instruments for reciprocating compressors and related drive systems. These products and solutions have been used in natural gas production, transportation, industrial use, and hydrogen and carbon-capture applications.

"FW Murphy is a technological pioneer in controlling and optimizing the performance of reciprocating compressors and engines,” said Marcell Ulrichs, President of DPC. “Adding its portfolio of solutions will allow DPC to offer reciprocating compression customers a choice of technologies to improve efficiency, promote safety, reduce their carbon emissions, and accelerate clean energy adoption. We expect to achieve tangible growth synergies from our combined product offerings and global go-to-market channels.”

The acquisition complements Dover’s cook compression product offerings and adds a host of digital compression technologies for remote monitoring. DPC will utilize FW Murphy to enter the market of predictive maintenance and reciprocating compressor optimization solutions.

"The acquisition of FW Murphy has all the hallmarks of value-creating bolt-on acquisitions that have been an integral part of Dover's strategy for decades,” said Richard J. Tobin, Dover's President and Chief Executive Officer. “FW Murphy is a privately-owned technological leader with a runway for sustained profitable growth. We are excited to add an asset with an attractive financial profile and value-creation potential to DPPS."