Trelleborg, Sweden - Trelleborg Sealing Solutions has signed an agreement to acquire a privately owned US-based distributor of polymer seals, the Swedish rubber company announced 23 Jan.
Carolina Seal Inc. specialises in seals, such as O-rings, hydraulic seals and 'speciality kitting', with transport equipment, particularly products for the transport of chemicals its biggest market.
The business has its office and warehouse in Charlotte, North Carolina, and has annual sales of €5.2 million.
The bolt-on acquisition, said Trelleborg, is part of the company’s strategy to strengthen its positions in "attractive" market segments.
“The acquisition is a good fit and gives us the opportunity to enter the fast-growing chemical transportation sub-segment,” said Claus Barsøe, president of the Trelleborg sealing solutions business area.
The US business, he added, “is well-known to us and we are impressed with their engineering knowledge and the service they provide to customers.”
The transaction is expected to be completed within the first quarter of 2017.