Dover Corporation is set to acquire SIKORA AG for €550 million in cash, subject to customary adjustments. Expected to close in the second quarter of 2025, once complete SIKORA will become part of Dover’s MAAG operating unit within Dover’s Pumps & Process Solutions segment.
Dover Corporation
Dover acquires SIKORA AG
Harald Sikora founded SIKORA in 1973. Since then, the company has become a leading provider of precision measurement, inspection, and control solutions for production processes in the wires and cables, hoses, tubes, sheets, optical fibres, and plastics industries. SIKORA’s solutions aim to help its customer achieve high quality and durability levels in their end products, resulting in cost efficiency, process optimisation, and quality assurance compliance improvements.
With electrification's growing popularity, SIKORA’s product demand is also increasing. As a result, the company has seen a double-digit organic growth rate over the last three years, generating around €100 million in revenue last year.
“SIKORA represents a highly strategic acquisition for MAAG,” said Ueli Thuerig, President of MAAG. “The company's outstanding products address similar customer needs to MAAG's products in resin-related markets, and its offerings provide MAAG with increased exposure to highly attractive market adjacencies where we have existing industry knowledge and customer relationships. Our shared capabilities and go-to-market overlap will generate material cross-selling benefits with a highly complementary portfolio of products and technologies, deepening our joint value proposition and integration with our OEM partners and end customers.”
Richard J. Tobin, President, Chief Executive Officer, and Chairman of Dover, added, “The acquisition of SIKORA aligns with our capital deployment strategy to add highly synergistic, growth-and-margin accretive businesses within our high-priority platforms. SIKORA's value proposition, attractive market applications, large installed base, and technological offerings have the hallmarks of a Dover business. We are excited to welcome SIKORA's talented workforce and culture of excellence to the Dover family of companies.”