ERIKS USA Acquires Oklahoma Distributor
The ERIKS group has agreed to acquire Turpen & Associates Inc in Tulsa, OK, a distributor of seals, bearings and industrial plastics.
With approximately 45 employees, Turpen has annual sales of $11 million and supplies its products directly to industrial manufacturers (OEM customers) in the oil and gas industry in Oklahoma and the surrounding states.
Sales by product group are: Seals - flange gaskets 10%, rubber technology 10%, O-rings 30%, dynamic sealing elements 25%; Bearings 10%; Industrial plastics 15%.
The acquisition fits in with ERIKS' policy of strengthening its position in the USA as a specialized knowledge-driven distributor in sealing technology and industrial plastics.
After this ...