Ontario, California – Datwyler Sealing Solutions (DSS) has completed the acquisition of US-based O-ring manufacturer Parco Inc.
Completed 5 Oct, the deal is set to open up new market segments for the Swiss group, Datwyler said in an 8 Oct statement.
The “strategically attractive” new industries include particularly oil and gas, as well as 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.
The company is aiming to achieve profitable growth through the “targeted cross-selling” of its existing products to Parco’s current customers and vice versa.