Trelleborg Sealing Solutions said today it has closed on its acquisition of rotary seal manufacturer Tritec Seal, which produces engineered polytetrafluoroethylene (PTFE) sealing solutions. Trelleborg said the acquisition strengthens its product portfolio while giving the business area access to increased manufacturing capacity.
Headquartered in Fenton, Mich., with additional manufacturing in Giddings, Texas, Tritec Seal generated sales of $31 million in 2018. Trelleborg said this bolt-on acquisition is part of its strategy to strengthen its position in attractive market segments, including oil & gas and agriculture.
“I am delighted to welcome Tritec Seal to Trelleborg,” said Kent Bergenholtz, president of global operations engineered plastics for Trelleborg Sealing Solutions, in a news release. “The added manufacturing capacity will help us address increased market demand for PTFE seals while expanding our product portfolio and engineering expertise,”
“The added manufacturing capacity will also aid in decreasing turnaround time for small production runs and enable us to get prototypes to market faster,” said Trelleborg Sealing Solutions business unit president Linda Muroski. “The move also enables current mutual customers to simplify their purchasing processes through vendor consolidation.”
The transaction closed on November 27, 2019. Details were not released.