CLEVELAND—System Seals Inc. has acquired Plastoseal Produktions GmbH, an Austrian-based seal manufacturer focused on highly engineered sealing solutions.
System Seals said the deal enhances its GlobalOne program, its comprehensive approach to managing supply chain logistics for seal customers worldwide. Both companies pride themselves on advanced seal design to reduce the total cost of equipment ownership for their respective customers.
"We are pleased with this transaction because both companies share very similar value propositions, as well as company cultures," System Seals President Arnold von Engelbrechten said in a statement.
According to System Seals, Plastoseal has developed into a market leader in the European seal manufacturing. The firm said Wolfgang Kerschbaumer will continue as Plastoseal's managing director.
Plastoseal, based in Leoben, Austria, produces seals and plastic components used in industrial applications. Kerschbaumer founded the company in 2005 and lead its growth throughout Europe where is it served the steel, food, paper and automotive industries.
The firm employs 13 people at an 11,800-sq.-ft. facility.
"We are delighted to have found a valuable strategic and globally connected partner in System Seals," Kerschbaumer said in a statement. "With them, we can offer our global customers a wider product range and access to research and development, while bringing a true global player on board.
"System Seals has grown quickly by helping customers reduce downtime and increase productivity through applied engineering and advanced technologies. This deal allows us accelerate that same offering throughout Europe."
System Seals serves a variety of industries, including metal processing, forging, oil and gas, mining, mobile hydraulics, cylinder repair and maintenance, wind power and injection molding. Its acquisition of Plastoseal is the second in the last three years, following a recent acquisition of Cleveland-based Arc Seals.