CHICAGO—Amsted Seals and Forming Co. has added a second subsidiary to its heavy-duty truck aftermarket portfolio, acquiring Triseal Corp., a 26,000-sq.-ft. wheel end accessory business in nearby Hebron, Ill.
"Amsted Seals and Forming acquired Triseal to accelerate our participation into the commercial vehicle component market by expanding our product portfolio offering, solidifying our supply chain and expanding our customer base," said Michael Carter, Amsted Seals and Forming president. "We are excited about the prospects Triseal brings and have already seen an immediate impact. Triseal is a great addition to our offering."
Financial details of the transaction were not disclosed by the privately owned companies.
The transaction comes on the heels of Amsted Seals and Forming's December 2019 acquisition of Ningbo, China-based Clark Seals L.L.C.
The former Triseal will add 13 employees to Amsted's work force, according to Tony Hatton, director of program management at Amsted Seals and Forming. All Triseal employees will remain with Amsted, except former Triseal President Patricia Wales.
"Triseal was a good fit for AS&F because they had an existing product line and supply base that extended our overall product offering for aftermarket commercial vehicle products and they were looking for a buyer," Hatton said.
While Amsted Seals and Forming will be the dominant brand, for products such as rubber-impregnated leather seals where Triseal had a significant brand awareness the branding will be Triseal by Amsted Seals and Forming with the colors changing to the Amsted Seals and Forming corporate colors.
There are plans to upgrade the Hebron facility's existing seal testing capabilities as Amsted looks to consolidate much of its North American distribution to the Hebron location, Hatton said.
"The Hebron location was attractive in that it is relatively close to our headquarters in Chicago," Hatton said. "The facility has knowledge and capability in the distribution of aftermarket product. We will be consolidating much of our North American distribution to this location."
As a family-owned aftermarket truck components manufacturer and distributor, Triseal's owners say they have prided themselves on value—of its employees, customers and community. With a product offering that includes wheel seals, pinion seals, hub caps, gaskets, hubodometers, axle nuts and other wheel end accessories, Triseal has enjoyed recognition in the global heavy-duty supply chain, according to Amsted.
Ray and Patricia Wales purchased the heavy duty seal division from Albert Trostel Packings Ltd. of Lake Geneva, Wis., in May 1985, and since then the corporate offices and manufacturing have been relocated to Hebron, which sits 70 miles north of Chicago and seven miles south of Lake Geneva.
Triseal by Amsted will continue to be a "significant" private label supplier to many of North America's largest vehicle and component OEMs and aftermarket suppliers on the heavy duty supply chain, Amsted said.
"Our quality lineup of products is engineered to exceed the performance expectations of on- and off-highway medium and heavy duty vehicle, bus, agricultural, and construction equipment owners," Triseal said.
The company offers standard and customized products and timely delivery, services that Triseal said distinguishes it in the heavy duty supply chain today.
"Technical expertise, a strong desire to remain dedicated to our customer's needs" is how Triseal said it creates value in the industry, the company states on its website.
Amsted Seals and Forming said that with the addition of Triseal's capabilities, the company is "uniquely positioned to serve the aftermarket truck market with a full product offering."
"The acquisition of Triseal accelerates our wheel seal sales to the aftermarket truck market and expands the breadth of product we offer as well," Carter said.
And while the coronavirus pandemic has caused some supply chain issues for Amsted Seals and Forming in the commercial automotive and aviation spaces, it has not slowed its progressive outlook for growth.
"The pandemic has affected our markets as well, as many of our customers were forced to reduce hours and furlough and lay off employees," Hatton said. "These effects were less than in other markets, but the last couple of months have been challenging."