Dover Acquires Production Control Services

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Sellers
Buyers
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Estimated Price
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Description

To buy developer, manufacturer & providers of artificial lift products & services for the oil and gas industry.

Dover Corp., Downers Grove, Ill., (NYSE: DOV) has acquired Frederick, Colo.-based Production Control Services for an undisclosed price.

The transaction closed on April 25, 2012 and was led by Drew Spitzer, Tiff Armstrong, Matt White and Chris Burnham from the firm’s Energy & Power (E&P) Group.

PSC develops, manufactures and provides artificial lift products and services for the oil and gas industry. The company operates from 29 locations throughout the U.S. and Canada.

Boston-based middle-market investment bank Harris Williams & Co. was financial advisor to Production Control Service.

“Production Control Services has built a strong reputation over 25 years through product innovation, operational excellence and superior customer service. We are proud to have represented PCS and Devonshire in this transaction,” says Drew Spitzer, a managing director and co-head of Harris Williams’s E&P Group. “The company’s expertise and established market position expand Dover’s product and systems capabilities in the artificial lift industry and will enable Dover to better serve its customers.” PCS previously had been a portfolio company of the private equity firm Devonshire Investors since 2004.