The polymer components business unit, which was part of Enpro’s Sealing Technologies segment, has two production facilities in Texas and a smaller site in Pennsylvania
Edgewater Capital Partners has acquired the polymer components business of EnPro Industries, an industrial technology company, for an undisclosed sum.
Based in Houston, Texas, the polymer components business has two production facilities in Texas and a smaller site in Pennsylvania.
The acquired business will be called Altamira Material Solutions, under Edgewater ownership.
The polymer components business unit, operated as part of Enpro’s Sealing Technologies segment, has generated revenue of up to $20m in the first half of this year.
Enpro interim president and CEO Eric Vaillancourt said: “We are very appreciative of our colleagues’ dedication to producing high-quality products and providing reliable service that our customers have come to expect.
“We wish for their continued success as they move forward as Altamira with Edgewater’s support.
“We continue to execute on our multi-faceted strategy to transform Enpro into a leading industrial technology company.”
Fidus Partners acted as an exclusive financial advisor to Enpro, while Robinson Bradshaw served as legal counsel.
Enpro provides products and services for multiple markets, including food and pharma and life sciences, semiconductor, general industrial and aerospace.
The company’s Sealing Technologies segment consists of business units such as Garlock, Stemco and Technetics Group.
Garlock manages two businesses – Garlock Sealing Technologies and Garlock Hygienic Technologies.
They provide fluid sealing and pipeline solutions for industries, including pharmaceutical, food and beverage, pulp and paper, metals and mining, marine, water/wastewater, chemical processing and power generation markets.