Dover has acquired Accelerated Companies LLC (Accelerated) for a purchase price of $430 million, subject to a customary adjustment for working capital. Headquartered in The Woodlands, Texas, Accelerated’s core offerings include electric submersible pumps (ESP), hydraulic jet pump systems, gas lift systems, surface pumping and modular process systems for filtration, separation, heating and other fluid handling operations. Accelerated will become part of Dover Artificial Lift, a business unit within Dover’s Energy segment.
Accelerated’s innovative offerings in ESP and jet pump technologies complement Dover Artificial Lift’s well-established position in systems, components and automation for rod lift, gas lift, plunger lift, progressing cavity pump applications and surface production. With this acquisition, Dover establishes a leading position in the fast-growing US shale well development market and is positioned for future growth in domestic and international markets.