Dover (NYSE: DOV) has acquired Accelerated Companies LLC, a supplier of artificial lift and fluid handling solutions to oil and gas production markets, for $430 million.
Accelerated’s core offerings include electric submersible pumps (ESPs), 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 offerings in ESP and jet pump technologies complement Dover Artificial Lift’s position in systems, components and automation for rod lift, gas lift, plunger lift, progressing cavity pump applications, and surface production.
With this acquisition, Dover furthers its position in the fast-growing US shale well development market and is positioned for future growth in domestic and international markets.