Dover Corporation#Pumps and Process Solutions

In the 1930s and 1940s, George Ohrstrom Sr., a New York City stockbroker, bought four manufacturing companies: C. Lee Cook Company (seals and piston rings), Rotary Lift (automotive lifts), C. Norris (oil-well pump-sucker rods){{cite web|last1=Cohen|first1=Paula|last2=Salamie|first2=David|last3=Weaver|first3=Christina|title=Dover Corporation|url=http://www.encyclopedia.com/topic/Dover_Corp.aspx|website=Encyclopedia.com|publisher=Thomson Gale|access-date=January 26, 2016}} and Peerless (space heaters).{{cite web|title=Acquisitions and Divestitures since 1955|url=http://media.corporate-ir.net/media_files/nys/dov/reports/dov_acqpm00wedits/11.htm|access-date=January 26, 2016}} Dover Corporation was incorporated in 1947,{{cite web|title=Company Profile: Dover|url=https://www.reuters.com/finance/stocks/companyProfile?symbol=DOV|website=Reuters.com|access-date=January 26, 2016}} and in 1955 Ohrstrom brought in the former owner and president of C. Lee Cook Company, Fred D. Durham, to manage his four companies. Later that same year, the Dover Corporate offices opened in Washington, D.C., and Dover Corporation went public on the New York Stock Exchange.{{Cite news |title=George L. Ohrstrom Jr. Dies |url=https://www.washingtonpost.com/archive/local/2005/10/09/george-l-ohrstrom-jr-dies/f8a12b5b-5060-4a88-a3f0-200f2844daf6/ |access-date=October 8, 2005 |work=The Washington Post}} As such, the year 1955 marks the company's official founding.{{original research inline|date=March 2016}}

Fred Durham influenced Dover's corporate culture, emphasizing autonomy, decentralization and few corporate staff members. As a result, divisions were run in an independent fashion, each with its own president. Today, Dover is still known for its decentralized management structure, its governance of operating companies and for its acquisitive approach.{{cite web|title=Invest In Dover Corporation Like Warren Buffett|url=http://www.warrenbuffett.com/invest-in-dover-corporation-like-warren-buffett/|website=WarrenBuffet.com|access-date=January 26, 2016}}

Between 1955 and 1979, Dover acquired 14 companies. A great deal of this acquisition activity served to build the Dover Elevator business. This elevator growth began in 1955, as Dover Elevator split from Rotary Lift and became an independent operating company within Dover. Dover's purchase of the Shepard Warner Elevator Company in 1958 marked the beginning of an effort to grow the elevator business.{{cite web|title=Dover Corporation Profile|url=http://cobrands.hoovers.com/company/Dover_Corporation/rfckif-1-1njhxk.html|website=Hoovers.com|publisher=Hoover's|access-date=January 26, 2016}}{{Dead link|date=November 2019 |bot=InternetArchiveBot |fix-attempted=yes }} In 1963, Dover acquired Acme Elevator, Elevator Service, Reddy Elevator Company in 1964 and Hunter-Hayes Elevator Company in 1970. With these purchases, Dover soon became the third largest elevator company in the U.S. and remained so for many years. Dover continued to expand its elevator division throughout the 1960s and 1970s with the purchases of Moody & Rowe, Burch, Turnbull, Burlington, Hammond & Champness, Louisiana Elevator and W.W. Moore. Ultimately, Dover sold its elevator division in 1999 to Thyssen AG for $1.1 billion.{{cite news|last1=Welsh|first1=Jonathan|title=Dover Agrees to Sell Elevator Business To Germany's Thyssen for $1.1 Billion|url=https://www.wsj.com/articles/SB911723623911296500|work=The Wall Street Journal|date=November 24, 1998|access-date=January 26, 2016}} Dover Elevator had a pretax operating profit of $93 million in 1997.{{cite news|title=Company News; Dover Corp. Says It Will Spin Off Its Elevator Business|url=https://www.nytimes.com/1998/05/08/business/company-news-dover-corp-says-it-will-spin-off-its-elevator-business.html|website=The New York Times|date=May 8, 1998|access-date=January 26, 2016}} The sale allowed Dover to focus on building its other businesses and moved ThyssenKrupp Elevator Americas to the number three spot worldwide in the elevator and escalator industry.{{cite news |title=Thyssen and Dover in $1.1 Billion Deal |url=https://www.nytimes.com/1998/11/24/business/international-business-thyssen-and-dover-in-1.1-billion-deal.html |newspaper=The New York Times |date=November 24, 1998 |access-date=January 26, 2016 |agency=Bloomberg News}}{{clarify |date=May 2016 |reason=What events led Dover to sell their elevator business to Thyssen AG, etc.? Did the board of directors have new business activities in mind to diversify into new companies in 1998? This article should elaborate on this point about selling off its main product line - elevators?}}

Dover's acquisition history reaches beyond the elevator industry. With a focus on diversification in the 1960s, such as the acquisition of Ohio Pattern Works & Foundry Company in 1961, came notable purchases of companies that continue to be a significant part of Dover Corporation today. The company was shortened to OPW, and in 1949 one of its engineers, Leonard H. Duerr, invented the automatic shutoff fuel-dispensing nozzle valve.{{cite web |title=United States Patent 2,582,195 Automatic Shutoff Dispensing Nozzle Valve|url=http://pdfpiw.uspto.gov/.piw?docid=02582195&SectionNum=3&IDKey=3A4E200F3BF5&HomeUrl=http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1%2526Sect2=HITOFF%2526d=PALL%2526p=1%2526u=%25252Fnetahtml%25252FPTO%25252Fsrchnum.htm%2526r=1%2526f=G%2526l=50%2526s1=2582195.PN.%2526OS=PN/2582195%2526RS=PN/2582195 |website=USPTO.gov|publisher=United States Patent and Trademark Office|access-date=January 26, 2016}} Today, the basic technology of Duerr's invention continues to exist in automatic shutoff nozzles,{{cite web|title=Evolution of the Fuel Nozzle|url=http://www.opwglobal.com/news/one-voice-blog/blog/one-voice-blog/2011/06/27/evolution-of-the-fuel-nozzle|website=OPWGlobal.com|publisher=OPW|access-date=January 26, 2016}} and OPW is still a part of Dover, specializing in the design and manufacture of commercial and retail-fueling.{{cite web |title=OPW Company History |url=http://www.opwglobal.com/company/history |website=OPWGlobal.com |publisher=OPW |access-date=January 26, 2016 }}

In 1962, Dover made two notable acquisitions: Detroit Stamping Company, now DE-STA-CO, specializing in the design and manufacturing of clamping, gripping, transferring and robotic tooling;{{cite web |title=History of DE-STA-CO |url=http://www.destaco.com/history.html |website=DESTACO.com |publisher=DE-STA-CO |access-date=January 27, 2016 }} and Alberta Oil Tool, subsequently part of Dover Artificial Lift before its separation from Dover Corp.{{cite web|title=Dover Artificial Lift Companies|url=http://www.doverals.com/dover-artificial-lift/en/gn/brands|website=DoverALS.com|publisher=Dover Artificial Lift|access-date=January 27, 2016|archive-url=https://web.archive.org/web/20160308074704/http://www.doverals.com/dover-artificial-lift/en/gn/brands|archive-date=March 8, 2016|url-status=dead}}{{cite web |last1=Blum |first1=Jordan |title=Dover Corp. Names New Energy Spinoff in The Woodlands |url=https://www.chron.com/business/energy/article/Dover-Corp-names-new-energy-spinoff-in-The-12616172.php |website=Houston Chronicle |date=February 15, 2018 |access-date=January 26, 2022}} Today, Alberta Oil Tool produces specialty drive rods, Norris tubular fittings, Norriseal control valves and other products.{{cite web|title=Welcome Page of Alberta Oil Tool|url=http://www.albertaoiltool.com/|website=AlbertaOilTool.com|publisher=Alberta Oil Tool|access-date=January 27, 2016}}

1964 marked a significant year, as OPW's former leader Thomas Sutton became president of Dover, and corporate headquarters were relocated to New York City. The 1970s were characterized by Dover's intent to expand beyond its principle industries of building materials, equipment and industrial components. A result of this effort included the acquisition of Dieterich Standard, which manufactured liquid-measurement instruments and whose president, Gary Roubos, went on to become Dover's chief operating officer (COO) and president in 1977. Later, Roubos became Dover's chief executive officer (CEO) in 1981.

Another significant acquisition included Sargent Industries, a manufacturer of control devices for aerospace and industrial end-markets, purchased in 1984 for $68 million.{{cite news | url=https://www.nytimes.com/1984/06/29/business/sargent-acquired.html | title=Sargent Acquired | newspaper=The New York Times | date=June 29, 1984 }} The Sargent Aerospace & Defense unit persisted as a global supplier of precision-engineered components and aftermarket services, performing critical functions on a variety of commercial and military aircraft, submarines and land-based vehicles.{{cite web|title=Welcome Page for Sargent|url=http://www.sargentaerospace.com/|website=SargentAerospace.com|publisher=Sargent Aerospace and Defense|access-date=January 27, 2016}}

In the 1980s, Dover also began to focus more on electronics. This period was marked by the acquisitions of K&L Microwave in 1983, Dielectric Laboratories in 1985 and NURAD in 1986. Dover later chose to spin off DOVatron in 1993 to shareholders,{{cite web|title=DOVER ELECTRONICS COMPANY COMPLETES TAX-FREE SPIN-OFF TO DOVATRON INTERNATIONAL INC.|url=http://www.thefreelibrary.com/DOVER+ELECTRONICS+COMPANY+COMPLETES+TAX-FREE+SPIN-%20OFF+TO+FORM...-a013160253|website=TheFreeLibrary.com|publisher=The Free Library|access-date=January 27, 2016}} as the company specialized in circuit-board assembly and had become a source of competition for Dover customers.

That same year, Dover acquired Phoenix Refrigeration Systems, which then acquired Hill Refrigeration in 1994 to form Hillphoenix. Hillphoenix now manufactures commercial refrigeration systems and mechanical centers, electrical distribution products, walk-in coolers and freezers, and specialty display cases and fixtures.{{cite web|title=Hillphoenix About Us|url=http://www.hillphoenix.com/about-us/|website=Hillphoenix.com|publisher=Hillphoenix|access-date=January 27, 2016|archive-url=https://web.archive.org/web/20160203050158/http://www.hillphoenix.com/about-us/|archive-date=February 3, 2016|url-status=dead}} The company is a partner of the EPA's GreenChill initiative, which focuses on reducing refrigerant emissions and climate-change impact.{{cite web|title=GreenChill Partners|url=http://www.epa.gov/greenchill/greenchill-partners|archive-url=https://web.archive.org/web/20130322201314/http://www2.epa.gov/greenchill/greenchill-partners|url-status=dead|archive-date=March 22, 2013|website=EPA.gov|publisher=United States Environmental Protection Agency|access-date=January 27, 2016}} Hillphoenix has more equipment installed at GreenChill Certified retail stores than any other refrigeration manufacturer.{{cite web|title=Hillphoenix Sustainability Center|url=http://www.hillphoenix.com/sustainability-center/|website=Hillphoenix.com|publisher=Hillphoenix|access-date=January 27, 2016|archive-url=https://web.archive.org/web/20160108134948/http://www.hillphoenix.com/sustainability-center/|archive-date=January 8, 2016|url-status=dead}}

Also in 1994, Dover's COO and President, Thomas Reece, became CEO of the company. The following year, Dover purchased an 88% interest in the French company Imaje Printing Products for $200 million; this acquisition marks the largest in Dover's corporate history. In 2006, Dover acquired Markem Corporation which specializes in identification.{{cite web |title=MARKEM Corporation to Be Acquired by Dover Corporation|url=http://www.businesswire.com/news/home/20060816005676/en/MARKEM-Corporation-Acquired-Dover-%20Corporation |website=BusinessWire.com |publisher=Business Wire – A Berkshire Hathaway Company|access-date=January 27, 2016}} In 2007, the companies merged and were renamed Markem-Imaje, and have since focused on product coding, labeling, traceability and identification.{{cite web |title=Markem-Imaje Products Overview |url=http://www.markem-imaje.us/products/product-coding/small-character-inkjet |website=markem-imaje.us |publisher=Markem-Imaje |access-date=January 27, 2016 }}

While Dover acquired more than seventy companies between 1998 and 2002, the company's acquisition rate slowed in the early 2000s. Dover sold eight companies in 2001 for a total of $400 million. The early 2000s also marked a leadership change: Ronald Hoffman, Dover's vice president, and former president and CEO of Dover Resources, become president and COO of Dover Corporation in 2003. In 2005, he was appointed to the position of CEO. The financial crisis hit Dover hard, but the company recovered quickly.{{cite web | title = Dover Corporation (DOV) Dividend Stock Analysis | last = Alden | first = M. | publisher = Dividend Monk |date=June 21, 2016 |access-date=March 3, 2016 |url=http://dividendmonk.com/dover-corporation-dov-dividend-stock-analysis-2011/ }}{{clarify |date=May 2016 |reason=IN SUM THIS SENTENCE NEEDS TO BE MORE SPECIFIC AND PROVIDE QUANTITY OF EFFECTS OF 2007/08 RECESSION.}}

Dover focused on growing target areas from 2007 to 2009, including electronic communication, energy and fluids, product identification, and refrigeration. Dover continued to grow its refrigeration business with the 2012 purchase of Anthony International for $602.5 million. Anthony designs and manufactures specialty glass, commercial-glass refrigeration and freezer doors, lighting systems, and display equipment.{{cite web|title=Dover Corporation Acquires Anthony International|url=https://www.reuters.com/article/idUS161862+30-Nov-2012+HUG20121130|archive-url=https://web.archive.org/web/20160304022128/http://www.reuters.com/article/idUS161862+30-Nov-2012+HUG20121130|url-status=dead|archive-date=March 4, 2016|website=Reuters.com|access-date=January 27, 2016}}

In 2008, Robert Livingston was appointed Dover's new CEO and president. Livingston's Dover career began twenty-nine years earlier with the acquisition of K&L Microwave, where he was a vice president.{{cite web|title=Dover Remakes Business Portfolio For Better Sales Growth|url=http://webreprints.djreprints.com/2862580692047.pdf|website=DJReprints.com|publisher=Dow Jones Reprint Solutions|access-date=January 27, 2016}} After joining Dover, Livingston also served as COO and vice president of Dover Corporation, president and CEO of Dover Engineered Systems, and president and CEO of Dover Electronics.{{cite web|title=Dover Names Robert A. Livingston CEO and Ronald L. Hoffman Retires|url=http://www.prnewswire.com/news-releases/dover-names-robert-a-livingston-chief-executive-officer-and-ronald-l-hoffman-retires-65527012.html|agency=PR Newswire|access-date=January 27, 2016}} Under Livingston's leadership, Dover moved its corporate headquarters from New York City to the Chicago area in 2010. Factors at play in this decision included Chicago's central location, wide variety of housing options for employees, quality of life, and nearby air service to national and global destinations.{{cite web|title=Dover Corporate Headquarters Moving to Illinois; Move Will Bring 100 New Jobs, Foster Growth in Northeast Illinois|url=http://chicagopressrelease.com/news/dover-corporate-headquarters-moving-to-illinois-move-will-bring-100-new-jobs-foster-growth-in-northeast-illinois|archive-url=https://web.archive.org/web/20160308081757/http://chicagopressrelease.com/news/dover-corporate-headquarters-moving-to-illinois-move-will-bring-100-new-jobs-foster-growth-in-northeast-illinois|url-status=usurped|archive-date=March 8, 2016|website=ChicagoPressRelease.com|publisher=Chicago Press Release Services|access-date=January 27, 2016}} The choice to move to Downers Grove, Illinois, was also partially impacted by an effort to consolidate operations, and reduce administration costs,{{cite web|last1=Corfman|first1=Thomas|title=Company relocating HQ from Park Avenue to Downers Grove|url=http://www.chicagobusiness.com/realestate/20091112/CRED03/200036128/company-relocating-hq-from-park-avenue-to-downers-grove|website=ChicagoBusiness.com|date=November 12, 2009|publisher=Crain's Chicago Business|access-date=January 27, 2016}} as the move brought all four segment headquarters under one roof.

From 2008 to 2012, Dover acquired almost twenty-five companies. Livingston's corporate development strategy sought to strengthen promising businesses and divest those that were either growing slowly or had significant exposure to highly volatile industries. As a result, Dover was able to apply greater focus to growing four or five targeted end-markets. Livingston also worked to reduced expenses by consolidating back office operations, metal purchases, and freight transportation. Inpro/Seal, a producer of bearing isolators, was purchased by Waukesha Bearings Corporation in 2009, which included 150,991 shares of Dover's common stock being issued to Inpro/Seal shareholders.{{cite web |title=ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For fiscal year ended December 31, 2009 ... Dover Corporation |publisher=United States Securities and Exchange Commission |access-date=March 3, 2016 |url=https://www.sec.gov/Archives/edgar/data/29905/000095012310014502/y81455e10vk.htm}} In 2010, KMC Inc. and Bearings Plus Inc. were acquired by Waukesha Bearings Corporation with the expectation of synergizing their bearing seal technologies with Dover.{{cite web |url=http://www.waukbearing.com/en/about-us/press-releases/?ID=3 |title=Waukesha Bearings Acquires KMC and Bearings Plus |publisher=Waukesha Bearings Corporation |date=November 24, 2016 |access-date=March 8, 2016}} In addition, between 2008 and 2010, Dover spent approximately $436 million to purchase a total of sixteen businesses, while only $100 million was earned from the sale of eight businesses.

In 2011, Dover expanded its acoustic components business with the purchase of Sound Solutions, a manufacturer of dynamic speakers and receivers for mobile phones and other consumer electronics, for $855 million.{{cite web|title=Dover to Acquire the Sound Solutions Business Line of NXP|url=http://investor.knowles.com/phoenix.zhtml?c=252194&p=irol-newsArticle&ID=1884030&highlight=|website=Knowles.com|publisher=Knowles|access-date=January 27, 2016}} Dover had acquired Knowles, a designer and manufacturer of hearing-aid technology and other acoustical componentry, six years earlier for $750 million.{{cite news|title=Dover to Buy Knowles For About $750 Million|url=https://www.wsj.com/articles/SB112471489531619505|work=The Wall Street Journal|date=August 22, 2005|access-date=January 27, 2016}} Sound Solutions and Knowles gave Dover the necessary scale to develop items for the rapidly evolving mobile-electronics industry. In 2014, Dover spun off Knowles,{{cite web|title=Dover Completes Spin Off Of Knowles Corporation|url=https://finance.yahoo.com/news/dover-completes-spin-off-knowles-221003865.html|publisher=Yahoo!|access-date=January 27, 2016}} which had a $2.6 billion market cap post-spin.{{cite web|last1=Mann|first1=Darspal|title=Recent Spin-Off Knowles Is An Opportunity Worth Investigating|url=http://seekingalpha.com/article/2097773-recent-spin-off-knowles-is-an-opportunity-worth-investigating|website=SeekingAlpha.com|publisher=Seeking Alpha|access-date=January 27, 2016}} Today, Knowles continues to be a global supplier of communication-technology components, such as MEMS (micro-electro-mechanical systems), microphones, speakers, receivers, transducers, capacitors and oscillators.{{cite web|title=Knowles Company Overview|url=http://www.knowles.com/eng/Our-company/Overview|website=Knowles.com|publisher=Knowles|access-date=January 27, 2016|archive-url=https://web.archive.org/web/20160121085048/http://www.knowles.com/eng/Our-company/Overview|archive-date=January 21, 2016|url-status=dead}} Dover CEO and president Robert Livingston described the spinoff as allowing both Knowles and Dover to more aggressively pursue their individual growth strategies.{{cite web|title=Dover Board of Directors Approves Spin-Off of Knowles|url=http://investor.knowles.com/phoenix.zhtml?c=252194&p=irol-newsArticle&ID=1898514&highlight=|website=Knowles.com|publisher=Knowles|access-date=January 27, 2016}}

In 2015, Dover sold Sargent Aerospace & Defense to RBC Bearings.{{cite web| title = Dover sells Sargent Aerospace & Defense unit for $500m |work=Aerospace Technology |access-date=October 19, 2019 |date=April 26, 2015 |url=https://www.aerospace-technology.com/news/newsdover-sells-sargent-aerospace-defense-unit-500m-4562828/}}

In 2016, Dover acquired Ravaglioli S.p.A., adding to its Vehicle Service Group{{Cite news |date=October 3, 2016 |title=Dover acquires Ravaglioli S.p.A. Group for 245 mln euros |url=https://www.reuters.com/article/business/dover-acquires-ravaglioli-s-p-a-group-for-245-mln-euros-idUSASC099Z6/ |access-date=July 16, 2024 |work=Reuters}}

In May 2018, Richard J. Tobin took over as president and CEO of Dover, after previously serving as the company's director.{{cite news|last=Hufford|first=Austen|title=Dover Picks CEO of Agricultural- Equipment Maker CNH as New Leader |work=Wall Street Journal|publisher=|date=March 20, 2018 |url=https://www.wsj.com/articles/dover-picks-ceo-of-agricultural-equipment-maker-cnh-as-new-leader-1521560968 |access-date=January 6, 2022}} In May 2018, Dover spun off a large portion of its Energy segment including upstream energy businesses into a standalone publicly traded company, Apergy.{{cite news|last=Pulsinelli |first=Olivia|title=Dover Corp. to spin off upstream business into Houston-area public company |work=Houston Business Journal|publisher=|date=December 8, 2017 |url=https://www.bizjournals.com/houston/news/2017/12/08/dover-corp-to-spin-off-upstream-business-into.html |access-date=January 6, 2022}}{{cite news|last=Pulsinelli |first=Olivia|title=Woodlands-based upstream business completes spinoff from Dover Corp. |work=Houston Business Journal|publisher=|date=May 9, 2018 |url=https://www.bizjournals.com/houston/news/2018/05/09/woodlands-based-upstream-business-completes.html |access-date=January 6, 2022}}

In February 2024, Dover appointed its president and CEO, Richard J. Tobin, to the additional role of Chairman of the Board. In addition, the independent directors of the Board appointed Michael F. Johnston to the role of lead independent director.{{Cite web |title=Dover Board Appoints Richard J. Tobin as Chairman |url=https://www.nasdaq.com/articles/dover-appoints-its-president-and-ceo-richard-tobin-to-additional-role-of-chairman |publisher=Nasdaq |access-date=March 14, 2024 }} Later that year, the company completed sales of two of its operating divisions. German firm {{ill|Stabilus|de}} purchased DESTACO for $680 million in a transaction announced in October 2023{{Cite news |title=Germany's Stabilus to buy Dover's business unit for $680 million |url=https://www.reuters.com/markets/deals/germanys-stabilus-buy-dovers-business-unit-680-mln-2023-10-12/ |archive-url=http://web.archive.org/web/20231012220701/https://www.reuters.com/markets/deals/germanys-stabilus-buy-dovers-business-unit-680-mln-2023-10-12/ |archive-date=October 12, 2023 |work=Reuters |access-date=April 15, 2025 }} and closed in April 2024,{{Cite press release |title=Dover Completes Sale of DESTACO Business Unit |date=April 1, 2023 |publisher=Dover Corporation |url=https://investors.dovercorporation.com/news-releases/news-release-details/dover-completes-sale-destaco-business-unit |access-date=April 14, 2025 }} while Terex acquired the Environmental Solutions Group division for $2 billion in a deal announced in July and closed in October.{{Cite news |last=Wallace |first=Jacob |date=October 9, 2024 |title=Terex completes $2B purchase of Environmental Solutions Group |url=https://www.wastedive.com/news/terex-environmental-solutions-group-dover-esg-heil/721967/ |work=Waste Dive |access-date=April 15, 2025 }}

Dover's organization and segment structure has changed over its history. For example, in 1985 Dover restructured into five major subsidiaries to reflect its key markets of interest. For reporting purposes, these five major subsidiaries were represented in four sections: building industries (Dover Elevator International); electronic products (Dover Technologies); petroleum (Dover Resources); and industrial and aerospace products (Dover Industries, Dover Sargent). In 1989, Dover re-segmented into six sectors based on market activity changes: Dover Elevator International, Dover Technology, Dover Resources, Dover Industries, Dover Diversified, and Corporate Companies. After selling Dover Elevator, these segments became Diversified, Electronics, Industries, Resources, Systems and Technologies.{{cite web|title=FORM 10-K|url=http://media.corporate-ir.net/media_files/irol/85/85517/reports/10K_2005.pdf|access-date=January 27, 2016}} In 2007, Dover reported four segments: Industrial Products, Engineered Systems, Fluid Management, and Electronic Technologies.{{cite web|title=Dover 2007 Annual Report|url=http://media.corporate-ir.net/media_files/irol/85/85517/reports/2007_AR.pdf|access-date=January 27, 2016}} Following 2014, Dover Corporation operated with four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment.{{cite web |title=Form 10-Q for DOVER CORP |url=http://biz.yahoo.com/e/140417/dov10-q.html |publisher=Yahoo |access-date=January 27, 2016 }} The operating companies that reside within each segment are run like independent companies.

{{As of|2022|post=,}} Dover Corporation is divided into five operating segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.{{cite news |date=November 18, 2021 |title=Dover Corporation (DOV) Up 3.9% Since Last Earnings Report: Can It Continue? |url=https://www.yahoo.com/now/dover-corporation-dov-3-9-163004089.html |work=Zacks Equity Research |via=Yahoo News |access-date=January 11, 2022}}{{cite web |title=Dover Corporation 2020 Annual Report |url=https://materials.proxyvote.com/Approved/260003/20210310/AR_458293.PDF |date=March 18, 2021 |publisher=Dover Corporation |access-date=January 4, 2022}} The Engineered Products segment provides products, software, and services for markets that include aerospace, defense, aftermarket vehicle services, industrial automation, and waste disposal.{{cite news |date=September 17, 2021 |title=Dover (DOV) Buys Espy, Expands Radio Frequency Solutions |url=https://www.yahoo.com/now/dover-dov-buys-espy-expands-155503250.html |work=Zacks Equity Research |via=Yahoo News |access-date=January 11, 2022}}{{cite news |title=About Dover Corp. |url=https://www.reuters.com/companies/DOV |work=Reuters |access-date=January 4, 2022}}{{cite web |title=Dover Corporation 2020 Company Overview |url=https://investors.dovercorporation.com/static-files/c3d6cc6f-1fb7-4236-af3b-2e4106906fd6 |date=March 18, 2021 |publisher=Dover Corporation |access-date=January 4, 2022 }} This segment includes Microwave Products Group, OK International, TWG, and Vehicle Service Group. The Clean Energy and Fueling segment provides products, services, software, and equipment for retail fueling and clean energy, vehicle wash solutions, and adjacent markets. This segment includes two operating companies: Dover Fueling Solutions and OPW. The Imaging and Identification segment supplies equipment and services to the marking and coding, product traceability, and digital textile printing markets. This segment includes two operating companies: Dover Digital Printing and Markem-Imaje. The Pumps and Process Solutions segment manufactures products for handling fluids across the chemical, hygienic, biopharma, oil and gas, and industrial sectors. This segment includes four operating companies: CPC, Dover Precision Components, MAAG Group, and PSG. The Climate and Sustainability Technologies segment provides equipment and systems to the commercial refrigeration, beverage packaging equipment, and heating and cooling markets. This segment includes three operating companies: Belvac, Dover Food Retail, and SWEP.

Dover's energy segment works in the drilling and production markets to develop systems that extract oil and gas. It is composed of seven operating companies: Cook Compression, Dover Artificial Lift, Dover Energy Automation (DEA), Accelerated Process Systems, TWG, US Synthetic, and Waukesha Bearings.{{cite web |title=Dover Energy Market |url=http://www.dovercorporation.com/globalnavigation/our-markets/energy |publisher=Dover Corporation |access-date=January 27, 2016 }} Cook Compression develops engineered compressors,{{cite web|title=Homepage of Cook Compression|url=http://www.cookcompression.com/|website=CookCompression.com|publisher=Cook Compression|access-date=January 27, 2016}} while Dover Artificial Lift develops systems for oil-and-gas production, such as rod lifts, progressing cavity pumps, gas lifts, and plunger-lift systems.{{cite web|title=Homepage of Dover Artificial Lift|url=http://www.doverals.com/|website=DoverALS.com|publisher=Dover Artificial Lift|access-date=January 27, 2016}} DEA includes Quartzdyne, which designs, develops, and manufactures resonating quartz pressure transducers for the downhole oil-and-gas industry.{{cite web|title=Homepage of Quartzdyne|url=http://www.quartzdyne.com/|website=Quartzdyne.com|publisher=Quartzdyne|access-date=January 27, 2016}} TWG is made up of six companies, all of which specialize in industry-specific winches and supporting electronic systems.{{cite web|title=TWG Brand Overview|url=http://www.team-twg.com/en/company/our-brands.htm|website=Team-TWG.com|publisher=TWG|access-date=January 27, 2016|archive-url=https://web.archive.org/web/20160306165237/http://www.team-twg.com/en/company/our-brands.htm|archive-date=March 6, 2016|url-status=dead}} US Synthetic produces long-lasting diamond inserts for downhole drilling-tool applications.{{cite web|title=US Synthetic Company Overview|url=http://ussynthetic.com/index.php/site/company|website=USSynthetic.com|publisher=US Synthetic|access-date=January 27, 2016}} Finally, Waukesha Bearings develops custom-engineered fluid-film bearings and magnet-bearing systems for high-performance turbomachinery.{{cite web|title=About Waukesha Bearings|url=http://www.waukbearing.com/en/about-us/|website=WaukBearing.com|publisher=Waukesha Bearings|access-date=January 27, 2016}}

The Engineered Systems segment develops products and systems for a variety of industries, from printing to waste handling. JK Group, Markem-Imaje, MS Printing Solutions, and OK International all serve the printing and identification markets. Environmental Solutions Group makes systems for the transportation and transformation of solid waste. De-Sta-Co is part of the work-holding and flexible-automation segment, such as clamps and grippers. Microwave Products Group serves defense, aerospace, and telecommunications markets. Lastly, Performance Motorsports Inc., Texas Hydraulics, Vehicle Service Group, and Warn are focused on the automobile and vehicle-service industry.{{cite web|title=Engineered Systems Market Overview|url=http://www.dovercorporation.com/globalnavigation/our-markets/engineered-systems |publisher=Dover Corporation |access-date=January 27, 2016}}

File:Original LaserWash Logo.gif

The Fluids segment designs and manufactures products and systems that safely handle critical fluids for the following end markets: oil-and-gas, retail-fueling, vehicle-wash, chemical, hygienic (food and pharmaceutical), and industrial. This segment is composed of: Colder Products Company, Finder, Hydro Systems Company (including Dosmatic U.S.A.), Maag, OPW, Tokheim, Wayne Fueling Systems and Pump Solutions Group.{{cite web|title=Dover Fluids Market Overview|url=http://www.dovercorporation.com/globalnavigation/our-markets/fluids |publisher=Dover Corporation |access-date=January 27, 2016 }} LaserWash is a brand name of a brand of touchless in-bay automatic vehicle wash system, or car wash.PDQ Manufacturing, Inc. website https://www.pdqinc.com/ Retrieved October 15, 2018.{{Cite web |url=http://tess2.uspto.gov/ |title=United States Patent and Trademark Office, registration #s 1913019;2860121 |date=August 29, 1994 |access-date=August 13, 2013 }} LaserWash vehicle wash systems are manufactured in De Pere, Wisconsin. The systems are able to be remotely controlled and configured over the internet via a web interface; owners are able to see the status of the car wash and send commands to the machine.{{Cite web|url=https://www.opwglobal.com/pdq-vehicle-wash-systems/products/touchless/laser-wash-360-plus#benefits |title=LaserWash 360 Plus {{!}} PDQ Vehicle Wash Systems |website=OpwGlobal.com |access-date=January 21, 2020 }}

Dover's Refrigeration & Food Equipment segment develops equipment and systems for the commercial-refrigeration, heating and cooling, and food and beverage packaging, and food service industries.{{cite web|title=Dover Refrigeration and Food Equipment Market Overview|url=http://www.dovercorporation.com/globalnavigation/our-markets/refrigeration-and-food-equipment |publisher=Dover Corporation |access-date=January 27, 2016}} Anthony and Hill Phoenix design grocery store refrigerators and freezers. Anthony manufactures glass refrigerator and freezer doors, lighting systems and display equipment,{{cite web|title=Anthony International Product Line|url=http://www.anthonyintl.com/en/Retrofit.aspx|website=AnthonyIntl.com|publisher=Anthony International|access-date=January 27, 2016}} and Hillphoenix manufactures display cases, walk-in coolers/freezers, and refrigeration and power systems.{{cite web|title=Hillphoenix Welcome Page|url=http://www.hillphoenix.com/|website=Hillphoenix.com|publisher=Hillphoenix|access-date=January 27, 2016}} The packaging industry is served by Belvac Production Machinery, Inc., which offers systems for the beverage can-making industry.{{cite web|title=Homepage of Belvac|url=http://www.belvac.com/|website=Belvac.com|publisher=Belvac Production Machinery, Inc.|access-date=January 27, 2016}} SWEP specializes in brazed-plate heat exchangers, with applications in air conditioning, refrigeration, heating, and industry and district energy.{{cite web|title=SWEP Company Overview|url=http://www.swep.net/company/company/|website=SWEP.net|publisher=SWEP|access-date=January 27, 2016}} Unified Brands produces commercial kitchen equipment; prior to December 2021, Dover was owned Unified Brands before its sale to Sweden-based appliance manufacturer Electrolux Professional.{{cite web|title=Homepage of unified brands|url=http://www.unifiedbrands.net/|website=unifiedbrands.net|publisher=unified brands|access-date=January 27, 2016}}{{cite news|title=Electrolux Professional to Buy Unified Brands from Dover for $244M|url=https://www.marketwatch.com/story/electrolux-professional-to-buy-unified-brands-from-dover-for-244m-271634018591|date=October 12, 2021|access-date=December 6, 2021}}{{cite news|title=Electrolux Professional has completed the acquisition of Unified Brands|url=https://www.electroluxprofessional.com/corporate/electrolux-professional-has-completed-the-acquisition-of-unified-brands/|date=December 1, 2021|access-date=December 6, 2021}}

The Imaging & Identification segment is involved with the design and manufacture of equipment, consumables and software, in addition to providing support services for the marking and coding and for digital textile printing markets. This segment incorporates Markem-Imaje who manufactures product identification and traceability systems including inkjet, thermal transfer, laser, print & apply label systems, and engineering systems. It also includes Dover Digital Printing who delivers printing systems through software, inks and consumables, along with printing systems for the digital textile, soft signage and specialty materials markets.{{cite web|title=Imaging & Identification |url=https://www.dovercorporation.com/segments/imaging-identification|access-date=September 21, 2020 |publisher=Dover Corporation }}

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