Dover to Sell ESG Business to Terex for $2B
- Dover is selling ESG to Terex for $2 billion.
- Chattanooga, TN-based business unit focuses on refuse collection vehicles and digital solutions, $750 million in 2023.
- Deal will close by end of 2024, subject to regulatory approvals and customary adjustments.
Dover has signed a definitive agreement to sell its Environmental Solutions Group (ESG), part of the Engineered Products segment, to Terex Corporation for $2 billion.
ESG, based in Chattanooga, TN, is a leading provider of refuse collection vehicles, compactors, balers and related aftermarket equipment. They also offer digital solutions including onboard vehicle safety systems, route management, predictive maintenance and customer relationship management software. In 2023 ESG reported $750 million in revenue.
Richard J. Tobin, President and CEO of Dover said, "ESG has been a part of the Dover family for decades and has created significant value for Dover shareholders over this time period. I would like to recognize and thank ESG President Pat Carroll and his management team for the transformational change in the business over the last decade."
About Environmental Solutions Group
Environmental Solutions Group is a machinery manufacturing company based in Chattanooga, TN. It consists of several well-known brands in the solid waste and recycling industry that collaborate to revolutionise the refuse sector with innovative waste management solutions focused on quality, durability, and unmatched performance.
Also known as Dover Environmental Solutions Group (Dover ESG), it is part of Dover's Engineered Products segment. Dover is a global manufacturer of innovative equipment and components.
The brands within Environmental Solutions Group are part of the Connected Collections® ecosystem, which includes Heil® refuse collection vehicles (RCVs), Marathon® Equipment compaction and recycling equipment, 3rd Eye® technology solutions, Soft-Pak® waste hauler software, Curotto-Can® automated carry cans, Bayne® lifting products, and Parts Central® OEM parts.
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Source: PRNewswire
