Koblenz, October 12, 2023 – Stabilus SE, one of the world’s leading suppliers of motion control solutions for a wide range of industries, signed an agreement to acquire the business of DESTACO, which supplies industrial automation components, from Dover Corporation, a global diversified industrial manufacturer headquartered in the USA. The closing of the transaction is expected in the first half of the calendar year 2024 and is subject to customary closing conditions, including regulatory approvals and the finalization of certain local transactions.
The complementary acquisition is an important next step in the targeted implementation of Stabilus’ long-term strategy, STAR 2030, which, among other things envisages strengthening of the Industrial business unit and a target revenue split between the Automotive and Industrial business units of 50% each. With this transaction, Stabilus will significantly expand its Industrial Automation business.
Founded in 1915, DESTACO is headquartered in Auburn Hills, Michigan, USA, and is one of the world’s leading companies in the development and manufacture of automation, workholding and remote handling components and solutions. As such, the company’s product portfolio is an excellent complement to Stabilus’ offering in the industrial sector. DESTACO’s core product offerings include clamping systems, gripping systems, linear positioning systems such as conveyors, rotary positioners, and robot tooling, such as robotic end effector gripping systems. As an industrial automation expert, DESTACO serves customers across the globe in a wide range of end markets. The company’s products for equipping manufacturing areas and lines serve industries such as consumer products, packaging, aerospace, automotive, life sciences and nuclear. DESTACO became part of Dover Corporation in 1962.
In 2022, DESTACO generated revenues of US$213 million. DESTACO employs approximately 650 employees across 13 locations in the USA, Europe, India, China and Thailand. The workforce and the individual locations are fully included in the scope of the transaction and DESTACO will continue operating as an independent brand under the Stabilus umbrella.