STOCKHOLM, Sweden—Trelleborg A.B.'s Industrial Solutions business has purchased 51 percent of Max Seal, a maker of polymer-based sealing systems.
The deal was finalized March 5.
Trelleborg has an option to acquire the outstanding shares of the business under the pact and intends to make that purchase, a company spokeswoman said. “When that will happen, we don't know yet.” It did not release financial data on the acquisition.
Max Seal develops and manufactures polymer-based sealing systems, including rubber gaskets, used in a variety of pipes deployed in water and wastewater systems.
It produces the systems at the firm's factory in Tijuana, Mexico. The facility, along with its management team and work force, are expected to remain with Trelleborg.
“This jointly owned company provides us with a broader customer base, an excellent combination of a competitive product mix and improved geographic presence,” said Mikael Fryklund, president of Trelleborg Industrial Solutions.
He said Trelleborg Industrial Solutions, based in Stockholm with plants and offices that cover 20 countries, has a strong base in the pipe seal sector in the European market, “and we can now offer our customers enhanced global support, which will create new potential for expansion.”
Max Seal has a great deal of experience and is highly regarded in the pipe seal field, Fryklund maintained. It has “leading-edge expertise, particularly in product development and manufacturing of molded seals, which we will be able to leverage in other parts of our operations,” he said.
It primarily produces its products for markets in the Americas, the spokeswoman said, especially the U.S., where the majority of its sales take place.
But she added that the JV has significant growth potential in Mexico and Latin America.
Max Seal has been a distributor of Trelleborg's Forsheda-brand products since 2011, the spokeswoman said, and the joint venture will continue to distribute the pipe seals.
In addition to sealing products, Trelleborg Industrial Solutions makes industrial hoses, oil and marine components, industrial anti-vibration systems, sealing profiles and polymer boots.