Anthony International, a maker of glass refrigerator doors, has been acquired by Illinois manufacturer Dover Corp. for $603 million.
The Sylmar company, which produces specialty glass doors for grocery stores, vending machines and wine storage facilities, was sold by New York private equity firm Avista Capital Partners.
Dover, based in suburban Chicago, manufactures a wide variety of products for the communications, printing, energy and engineering industries, including refrigeration products.
“Our sale to Dover represents a fantastic outcome for Anthony’s customers, employees and shareholders,” said Anthony’s Chief Executive Jeff Clark, in a statement. “We look forward to continuing to serve our customers in a partnership with our new owners at Dover with the same commitment to service and innovation.”
Avista financed Anthony’s rapid expansion in recent years before acquiring the company in June 2011. This year, Anthony acquired BiG Services, Crawford, Ga. Installer of glass doors. Anthony has operations in Madison, Ga.; Audubon, Iowa; Brantford, Canada; Lucca, Italy; and Shanghai.
Dover, traded on the New York Stock Exchange, has acquired several other manufacturing firms this year, including the maker of a water filtration system used in the oil and gas industry.