ERIKS North America Continues Growth through Strategic Acquisitions
Resource from: ERIKS North America Likes:127
Apr 22,2015
PITTSBURGH, April 21, 2015 /PRNewswire/ -- ERIKS North America, a leading industrial process solutions provider, recently added two new companies to its family of industry leaders. With the acquisitions of Action Industrial Group by ERIKS' Lewis-Goetz and Seals and Packings, Inc. by ERIKS Seals and Plastics, the company continues its aggressive growth and commitment to expanding its business model geographically and within strategic end markets. Part of ERIKS worldwide, ERIKS North America is made up of four companies that offer complementary products and services across multiple industries.
"With the addition of these two great companies, we continue to expand our industrial reach and our ability to deliver value to our customers," said Jeff Crane, president and CEO of ERIKS North America. "The associates of Action Industrial and Seals and Packing bring significant industry and application know-how. Couple this with our global resources and our unique ability to add value continues to grow."
ERIKS industrial distributor Lewis-Goetz entered a definitive agreement in April to acquire Action Industrial Group, a South Carolina-based fabricator and distributor specializing in fasteners, gaskets, hose products and industrial construction tools and supplies. The acquisition adds seven Southeast locations to the Lewis-Goetz footprint, as well as considerable gasket fabrication technologies. Action Industrial Group has 78 employees and had $21.5 million in net sales last year.
As part of Lewis-Goetz, Action Industrial Group will have the opportunity to expand its reach with more access to resources and greater opportunities to cross-sell products. Lewis-Goetz fabricates and distributes hose, sealing, conveyor belt and valve products from nearly 100 locations in the United States and Canada.
ERIKS Seals and Plastics Inc., a leading technical resource for seals, engineered and bearings required for demanding applications, has also acquired Texas-based Seals and Packings. Seals and Packings has been in operation for more than 30 years, delivering high-performance seals and related components to a wide range of industries, including oil and gas, automotive, rail, aerospace, mobile and industrial hydraulics, chemical, petrochemical, and medical. Locations across the United States and Europe provide global supply chain solutions.
As part of ERIKS Seals and Plastics, clients will benefit from an even stronger portfolio and unique combination of product and material expertise combined with efficient, customized logistics.
This acquisition enables ERIKS to enhance its client base in the U.S. oil and gas industry and will further strengthen its product and service offerings to existing and new customers. Customers will benefit as the capabilities of these two leading companies are merged to provide greater product availability, engineering expertise and customized logistics solutions.
The addition of these two companies comes on the heels of ERIKS North America's acquisition of Advanced Sealing, a full-spectrum manufacturer and distributor of fluid sealing products to refining, chemical processing, power generation and wastewater treatment facilities. Advanced Sealing, which was acquired by Lewis-Goetz in July 2014, provides high quality products and a professional, customer focused workforce, which has further strengthened the solutions-based approach of Lewis-Goetz.
The ERIKS North America family of companies was ranked 20th on MDM's 2014 list of Top 40 Industrial Distributors. ERIKS global organization consists of more than 60 companies with 450 branches in 27 countries, serving over 200,000 customers in the MRO, OEM, and project distribution business.
About ERIKS
Founded in 1940, ERIKS is a leading international industrial service provider offering a wide range of engineering components and related technical and logistics services. ERIKS' current product range is divided into five core activities: flow technology, sealing and rubber technology, industrial plastics, power transmission and bearings, and tools, maintenance and safety products. ERIKS currently consists of more than 60 companies with 450 branches in 27 countries, serving over 200,000 customers in the MRO, OEM, and project distribution business. In 2014, ERIKS generated net sales of approx.
(ERIKS North America)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
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