After the transaction closes, Belanger will become part of OPW, a global fluid handling solutions unit in Dover’s fluids segment.
“We look forward to welcoming the talented team from Belanger,” said Richard J. Tobin, president and CEO of Dover. “When combined with our PDQ business, one of our OPW brands, we will be able to offer customers a full breadth of products in this attractive market.”
Headquartered in Northville, Michigan, and employing more than 150 people in the U.S., Belanger has served the car wash industry for nearly 50 years. The company, known for its engineering and reliability, generated some $55 million in 2018 sales.
The addition of Belanger strengthens OPW’s position as one of the largest car wash equipment and systems suppliers with brands in conveyor tunnel and in-bay automatic segments, as well as large vehicle wash solutions.
Dover expects the acquisition to achieve double-digit return on capital in three years, consistent with Dover’s M&A criteria.
Terms of the transaction were not disclosed. The transaction is subject to satisfaction of customary closing conditions, including regulatory approvals, and is expected to close in early 2019.