PeopleFlo Announces Spinoff of EnviroGear to Dover Corp.
PeopleFlo will remain a standalone corporation focused on manufacturing innovation.
PeopleFlo Manufacturing today announced that its board of directors has unanimously approved a plan to spin off the EnviroGear product line to the Pump Solutions Group (PSG), a business unit within the Dover Fluid Management Segment of Dover Corporation. Under the plan, PeopleFlo sold the EnviroGear product line and related manufacturing assets to PSG. These assets will be relocated to PSG’s facility in Grand Terrace, CA. In addition, PeopleFlo licensed its One-Product-Flow Manufacturing System to PSG. Terms of this transaction were not disclosed.
“PSG is poised to rapidly scale EnviroGear sales,” said William Blankemeier, President of PeopleFlo. “They have access to markets worldwide through a premier distribution network.”
PeopleFlo will continue to operate as a privately held corporation that develops innovative solutions for the industrial process market with a sharper focus and a new strategy to accelerate value creation.
“We are repositioning PeopleFlo as a company focused squarely on manufacturing innovation. That means combining PeopleFlo’s unique ‘lean’ philosophies with our distinctive systems approach to develop turn-key product lines,” explained William Blankemeier. “We see great opportunities to develop innovative next-generation products that are simpler, more affordable and at the same time, protect the environment. We plan to spin off these turn-key product lines to major corporations with the resources necessary to quickly commercialize them on a global scale.”