Dover has entered into a definitive agreement to acquire Malema Engineering Corp, a US designer and manufacturer of high-precision, mission-critical flow-measurement and control instruments for the biopharmaceutical, semiconductor and industrial sectors.
Image: dizain/Adobe Stock.
Malema’s products will expand Dover’s biopharma single-use production offering, which already includes Quattroflow pumps, CPC connectors, and em-tec flowmeters.
Based in Boca Raton, Florida, and with facilities in San Jose, California, Singapore, South Korea and India, Malema expects to generate approximately US$40 million–45 million in revenue during the full year 2022.
When the deal closes, Malema will become part of the PSG business unit within Dover’s Pumps & Process Solutions segment.
“We see a tremendous long-term growth opportunity in the bioprocessing industry driven by a strong and growing pipeline of effective novel biologic drugs, biosimilars, protein therapies, non-COVID mRNA vaccines, as well as budding cell & gene therapies,” says PSG’s president Karl Buscher. “Additionally, the growing adoption of more efficient single-use production processes supports a robust outlook for our offerings of single-use components to end-customers. We believe that pairing Malema’s technology with our existing portfolio of single-use pumps for biopharma processing will greatly enhance the accuracy and value proposition of our solutions to our customers.”
“We are methodically building out our biopharma platform through proactive capacity additions, new product development, and opportunistic acquisitions of highly-attractive niche component technologies,” said Richard Tobin, president and CEO of Dover. “Malema represents a strategic and highly-complementary flow-control and sensing technology and further strengthens our sensor portfolio with new proprietary technology. In addition to attractive biopharma applications, we expect strong growth in the semiconductor space on the capacity expansion and re-shoring tailwinds.”
