STOCKHOLM, Sweden—Trelleborg A.B.'s Industrial Solutions business has signed an agreement to purchase 51 percent of Max Seal, a maker of polymer-based sealing systems based in Costa Rica.
The transaction is expected to be completed in the first quarter.
Trelleborg has an option to acquire the remaining shares of the business under the pact and intends to make that purchase, although the firm did not provide further details.
Max Seal develops and manufactures various types of pipes, rubber gaskets and seals deployed in water and wastewater systems at its plant in Tijuana, Mexico. It also has sales and distribution centers in the U.S., Mexico and Costa Rica.
"This jointly owned company provides us with a broader customer base, and excellent combination of a competitive product mix and improved geographic presence," according to Mikael Fryklund, president of Trelleborg Industrial Solutions.