United Dominion to Acquire Imo, Core

United Dominion Industries Ltd. will acquire two companies that manufacture pumps and other fluid-control devices for a total of about $770 million, the companies said. United Dominion, a manufacturer of industrial and commercial products, will pay about $440 million for Imo Industries Inc. of Lawrenceville, N.J., and about $330 million for Core Industries Inc. of Bloomfield Hills, Mich., including the assumption of debt. After the transactions are completed, United Dominion will have revenue of about $2.4 billion and about 14,100 employees at 92 locations in 18 countries, it said. The deals complete Charlotte, N.C.-based United Dominion’s transformation to a company focused solely on the manufacture of proprietary engineered products for worldwide industrial markets. The new acquisitions are expected to provide additional annual revenue of about $750 million. United Dominion’s stock fell 31 cents to close at $25.25; Imo rose $2.625 to close at $5.75; and Core gained $1.44 to close at $24.69, all on the NYSE.