OPW Acquires Fibrelite, KPS in Separate Transactions
Will leverage all product lines, technologies in U.S., international markets
CINCINNATI -- OPW, an operating unit within Dover Corp.'s Energy segment, and global leader in fluid handling solutions, recently completed two acquisitions. OPW has acquired U.K.-based Fibrelite, a leader in composite access covers and containment systems for retail fueling sites, and Sweden-based Kungsors Plast AB (KPS), a leader in high-density polyethylene (HDPE) fusion piping systems for retail fueling sites.
Terms of each transaction were not disclosed.
"The combination of three of the most respected brands in the retail petroleum industry, OPW, KPS and Fibrelite creates an unprecedented portfolio of complementary best-in-class products. This enables us to provide our customers with the best solution available, supplied and supported from a single source, anywhere in the world," said David Crouse, OPW president. "By leveraging each company's strengths, we create the best team to develop even more innovative solutions to address the evolving needs of our global customer base."
Soma Somasundaram, president and CEO of Dover Energy, said, "The addition of Fibrelite and KPS is consistent with the OPW platform growth strategy. It's exciting to consider the breadth of solutions and possibilities that will result from leveraging the strengths of these market-leading companies."
Cincinnati-based OPW is the global leader in fully integrated fluid handling, management, monitoring and control solutions for the safe and efficient handling of fuels and critical fluids from the refinery to the commercial and retail points of consumption, including loading systems, rail and transport tank truck equipment, tank gauging equipment and automated fuel management systems, valves and fittings, underground and above ground storage tank equipment, spill containers, overfill prevention devices, secondary containment sumps and flexible piping, fuel dispensing products and clean energy fueling nozzles and accessories for LPG, Hydrogen and CNG.
OPW has 1,200 employees with manufacturing operations in North America, Europe, Brazil, China and India and sales offices around the world.
Fibrelite launched the first composite access covers for the retail petroleum industry in the 1980s. From this point, a product category was created in which Fibrelite remains a world leader. Fibrelite also developed a line of resin transfer molded (RTM) tank and dispenser sumps. Fibrelite has manufacturing locations in the U.K., Malaysia and the United States.
KPS pioneered the use of HDPE Fusion piping systems for fueling stations in the 1990s. Fusion piping is the preferred technology for most markets outside of North America with KPS as a market leader. KPS's system includes conductive high-density polyethylene fusion pipe and fittings. KPS also offers HDPE piping for LPG fueling applications. KPS products are manufactured in Sweden with sales offices and warehouses throughout Europe, southeast Asia and China.