Ontario, California – Datwyler Sealing Solutions (DSS) has announced its second acquisition in a week as part of a strategy to “significantly expand” its O-ring business.
Part of the Swiss manufacturing group Datwyler Holding AG, DSS announced 31 Aug that it had signed a deal to acquire the US company Parco Inc for an unspecified amount.
Expected to be completed in “coming weeks”, the acquisition is part of DSS’ move to add “multiple new industries to its portfolio.”
“Acquiring Parco opens up some new market segments for us and presents us with wide-ranging options for strategic development,” said Dirk Lambrecht, CEO of the Datwyler Group.
A family-owned company, Parco is a supplier of O-rings and customised elastomer seals for multiple industries in the US including oil and gas, aerospace, water filtration, farm, construction and fuel-dispensing.
Parco, which employs 275, has a compound development and engineering department as well as its own mixing facility and mould and die production.
The acquired business has four production sites in the US and posted an annual revenue of CHF 60 million (€53.3 million) last year.
In addition to Parco’s takeover, Datwyler said it was strengthening its position in the US with “significantly expanding” its existing O-ring business, which it acquired in its 2015 takeover of Origom.
DSS announced the takeover of automotive seals supplier BINS Indústria de Artefatos de Borracha Ltda in Brazil on 23 Aug. The Brazilian purchase, said DSS, is aimed at closing geographical gaps in Datwyler’s automotive supply.