OPW Acquires Marshall Excelsior for $395 Million in Cash | Acquisitions

OPW Global has acquired Marshall Excelsior Company (MEC), a Michigan-based specialist in flow control components, for $395 million in an all-cash transaction.

MEC serves the liquefied petroleum gas and cryogenic gas markets and has access to new remote monitoring for transport vehicles and heavy duty service valve offerings. These developments will expand OPW’s participation in the compressed and liquefied gas industry.

In 2023, MEC generated revenues of approximately $120 million.

Kevin Long, president of OPW in Ohio, described the transaction as a strategic move, noting that it will expand the company’s technology capabilities.

He added: “MEC’s innovative solutions enhance our offering to our customers and position us to drive further growth and synergies.”

The move follows last week’s OPW (19^e July) in which the acquisition of the European market leader in cryogenic equipment, Demaco, was announced.

Read more: OPW acquires Demaco in cryogenic consolidation

Both transactions continue the consolidation of cryogenic expertise under OPW Clean Energy Solutions, after the company was formed in December 2021 when Dover acquired both ACME Cryogenics and RegO® Products.

Read more: Dover Acquires Acme Cryogenics, Inc. and RegO

Later, in November 2022, it was announced that the two acquired companies would adopt a joint OPW Clean Energy Solutions brand strategy and logo to reflect the shared mission of producing engineered solutions for shared markets.

Richard Tobin, Dover CEO and President, said the acquisition of MEC strengthens Dover’s portfolio and continues the strategic evolution of Dover’s Clean Energy & Fueling Segment into a growth-oriented suite of critical components businesses focused on clean energy applications.

He concluded: “In addition to strengthening our clean energy platform, MEC is a strong business model fit for Dover due to its significant recurring revenues from mission-critical components, differentiated product features with clear regulatory and safety-driven tailwinds, and a large installed base with a diverse blue-chip customer base.