Charlotte, North Carolina – US industrial technology group Enpro Industries, Inc. is divesting its polymer components business as it continues to streamline portfolio.
Cleveland, Ohio-based private investment firm Edgewater Capital Partners is acquiring the business which will be renamed as Altamira Materials Solution, the group announced 3 Sept.
Terms of the transaction were not disclosed.
The unit, part of Enpro’s sealing technologies segment, is headquartered in Houston, Texas, with two production facilities in Texas and a smaller site in Pennsylvania.
The business posted a revenue of $20 million (€17 million) in the first half of 2021.
Enpro’s sealing technologies segment is focused on “niche applications” across many end-markets including semiconductor, general industrial, aerospace, food & pharma and life sciences.
The segment includes the Garlock family of companies which is comprised of polymer solutions companies Garlock Sealing Technologies and Garlock Hygienic Technologies.
The segment also includes commercial vehicles’ components manufacturer Stemco and ‘highly engineered’ products maker Technetics Group.