Malema Engineering Corporation (“Malema”), a designer and manufacturer of high-precision, mission-critical flow-measurement and control instruments serving customers in the biopharmaceutical, semiconductor, and industrial sectors, has been sold to Dover Corporation (“Dover”). Malema will become part of the PSG business unit within Dover’s Pumps & Process Solutions segment.
Malema’s products will expand Dover’s biopharma single-use production offering, which already includes Quattroflow pumps, CPC connectors, and em-tec flowmeters. Based in Boca Raton, Florida, with facilities in California, Singapore, South Korea and India, Malema expects to generate approximately $40-45 million in revenue during the full year 2022. The Company has generated double-digit average annual revenue growth over the last five years and maintains a robust growth outlook.
Over the past four decades, Malema has cultivated a loyal base of blue-chip customers, OEMs, and end-users with substantial aftermarket and recurring revenue streams. Malema’s first-of-its-kind single-use flow sensor uses Coriolis technology to deliver superior flow-measurement performance and accuracy, reducing the potential for measurement error and eliminating the need for calibration in time-sensitive and contamination-intolerant environments.
The purchase price is comprised of $225 million in cash at closing, subject to customary purchase price adjustments, and up to $50 million in contingent consideration dependent on the achievement of certain financial objectives over a two-year period.
Dover is a diversified global manufacturer and solutions provider with annual revenue of approximately $8 billion. The Company delivers innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services through five operating segments: Engineered Products, Clean Energy & Fueling, Imaging & Identification, Pumps & Process Solutions, and Climate & Sustainability Technologies.
PSG, part of the Pumps & Process Solutions segment of Dover Corporation, is a global pump solution expert and leading manufacturer of pumps, systems, and related flow-control technology for the safe and efficient transfer of critical and valuable fluids and materials. Headquartered in Oakbrook Terrace, IL, PSG is comprised of several world-class brands, including Abaque®, All-Flo®, Almatec®, Blackmer®, Ebsray®, em-tec®, Griswold®, Hydro Systems™, Mouvex®, Neptune™, Quantex™, Quattroflow®, and Wilden®.
EC M&A acted as financial advisor to Malema on this transaction.
