Paladin Brands Holding Inc, the parent group of boom specialist Jewell and attachments manufacturer Genesis, among others, has been sold by owner equity investment firm Norwest Equity Partners to Dover Corporation.

Dover is a diversified industrial manufacturer with over $6 billion annual revenues from its operating companies that manufacture industrial products and equipment.

In a statement, Dover said that Paladin will operate as an independent company reporting to the Dover Resources Materials group. Paladin reports annual sales in excess of $350 million from the activities of its 12 subsidiary companies, which employ 1,500 people in 19 manufacturing locations throughout the USA and Mexico.