Dover Corp., has announced that it has entered into a definitive agreement to acquire So. Cal. Soft-Pak Inc., a San Diego-based software provider to the waste and recycling fleet industry.
The local company, Soft-Pak offers integrated back-office, route management and customer relationship management software solutions.
According to a news release from Dover, Soft-Pak has a 30-year track record of serving hundreds of waste and recycling fleets nationwide with software solutions tailored to the fleet customers’ unique needs.
In 2014, the company launched a Mobile-Pak in-cab connected tablet solution, which includes real-time GPS tracking, route management in real-time and various functionalities allowing integration of moving fleet into the hauler’s back office.
Following the close of the transaction, Dover reports that Soft-Pak will become part of its Environmental Solutions Group business unit, a supplier of waste handling solutions to the North American waste and recycling industry in Dover’s Engineered Products segment.
Dover says, the acquisition enhances Dover’s Environmental Solutions Group’s digital offerings centered around connected refuse vehicle and productivity-enhancing solutions. The company expects this acquisition to be accretive to the growth and margin profile of Environmental Solutions Group and to achieve double-digit return on capital in three years.
Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2020.