Trelleborg, Sweden – Trelleborg Sealing Solutions (TSS) has agreed to acquire US-based Tritec Seal LLC, a manufacturer of engineered polytetrafluoroethylene (PTFE) sealing systems.
Based in Fenton, Michigan, Tritec Seal supplies products to a variety of end-markets including mining, industrial, motorsports, agricultural, oil and gas, and chemical industries.
The company registered total sales of SEK300 million (€28 million) in 2018 and employs 130 people, said Trelleborg in a statement 25 Nov.
The details of the transaction were not disclosed.
The acquisition strengthens Trelleborg’s product portfolio, primarily in rotary seals, while giving TSS access to “needed” increased manufacturing capacity, the statement said.
Trelleborg said the bolt-on acquisition was part of its strategy to strengthen its positions in attractive market segments.
“Along with Tritec Seal’s service model for the maintenance, repair and operations (MRO) market… we are also gaining a strong offering for local original equipment customers,” said Peter Hahn, president of the Trelleborg Sealing Solutions business area.
The transaction is expected to be finalised during the fourth quarter of 2019.