SKF Buys Industrial Seals Company; On Acquisition Trail in Europe
SKF, G'teborg, Sweden, has acquired for $21 million 51% of the shares of the North American seals company Macrotech Polyseal Inc. As part of the agreement SKF will acquire the remaining 49% within three years. Macrotech is a leader in fluid power seals based on polyurethane (PU) technologies and engineered plastics (mainly PTFE - PolyTetraFluoroEthylene) for the industrial customers in the US market.
Macrotech is based in Salt Lake City, UT, with two factories and 397 employees. Yearly sales amount to approximately $33 million. The company's product range includes injection molded PU hydraulic seals. The biggest customer segments are fluid power (mainly hydraulics) and '