Dover Corporation acquired Innovative Control Systems, Inc. (ICS) for $77.0 million, a transaction completed in December 2020, structured as all cash.
Innovative Control Systems, Inc. (ICS) operates in Clean Energy & Fueling. Innovative Control Systems, Inc. (ICS) is a provider of car wash controllers, payment terminals, point-of-sale and wash site management software solutions. Acquired 100 percent of the voting stock for $77.0 million, net of cash acquired. Enhances the segment's participation in the car wash market.
ICS enhances Dover's vehicle wash controls, payments and site-management software offering.
Clean Energy & Fueling
Advisory firms were not disclosed for this transaction.