Downer’s Grove, Illinois-based manufacturer and solutions provider Dover announced Oct. 4 that it will acquire FW Murphy Production Controls LLC — a subsidiary of privately-owned Genisys Controls LLC — for $530 million.

The deal is expected to close in the fourth quarter of 2023 subject to customary closing conditions, including receipt of regulatory approvals. When the transaction closes, FW Murphy will become part of the Dover Precision Components operating unit within Dover’s Pumps & Process Solutions segment, the company said in a news release.

FW Murphy provides control, remote monitoring, digital-twin-based predictive maintenance, and adaptive performance optimization components, solutions, and instrumentation for reciprocating compressors and associated drive systems. The company is expected to generate approximately $120 million in revenue in 2023.

“FW Murphy is a highly regarded technological pioneer and leader in controlling and optimizing the performance of reciprocating compressors and engines,” said Marcell Ulrichs, President of Dover Precision Components. “Adding its portfolio of solutions will allow DPC to offer reciprocating compression customers an unparalleled choice of technologies to improve efficiency, promote safety, reduce their carbon emissions, and accelerate clean energy adoption. We expect to achieve tangible growth synergies from our combined product offerings and global go-to-market channels.”