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CINCINNATI -- OPW acquired fluid handling solutions provider Fibrelite and Kungsors Plast AB (KPS), a provider of high density polyethylene (HDPE) fusion piping systems, in separate transactions.
"The combination of three of the most respected brands in the retail petroleum industry, OPW, KPS and Fibrelite creates an unprecedented portfolio of complementary best-in-class products. This enables us to provide our customers with the best solution available, supplied and supported from a single source, anywhere in the world," stated David Crouse, OPW President. "By leveraging each company’s strengths, we create the best team to develop even more innovative solutions to address the evolving needs of our global customer base."
Terms of the transactions were not released.
"The addition of Fibrelite and KPS is consistent with the OPW platform growth strategy," stated Soma Somasundaram, president and CEO of Dover Corp.'s energy segment, parent company of OPW. "It’s exciting to consider the breadth of solutions and possibilities that will result from leveraging the strengths of these market-leading companies."
British-based Fibrelite launched the first composite access covers for retail petroleum industry in the 1980s.
KPS, based in Sweden, has manufactured HDPE fusion piping systems for fueling stations since the 1990s.
OPW offers fully integrated fluid handling, management, monitoring and control solutions for the safe and efficient handling of fuels and critical fluids from the refinery to the commercial and retail points of consumption.