Yorkshire firm opens wallet three times in a week
By Anthony Clark
Posted 13 August 2012
Yorkshire-based Fenner, a specialist in reinforced polymer technology, has acquired Florida’s American Industrial Plastics (AIP) for an undisclosed sum.
The news of the deal follows hot on the heels of the firm’s purchase of up oil and gas components firm Norwegian Seals, which was also concluded last week along with the acquisition of Scandinavian hose specialist Mandals.
AIP is a precision machining company with the ability to handle advanced polymers for application in the oil, gas and medical markets, making it an ideal addition, according to Nick Hobson, CEO of Fenner. It also manufactures precision components for a range of niche applications including aerospace.
The firm will become part of the Fenner Advanced Sealing Technologies (FAST) business.
“It’s a bit like London buses,” Hobson told PRW. “There was no grand plan to announce three deals in a week. Fenner’s always been acquisitive – we’ve made regular bolt-on acquisitions for the last 10 years.
“AIP's proprietary manufacturing technologies, which include polymer machining techniques with unprecedented levels of precision, complement FAST's existing capabilities and business in the oil and gas and medical markets,” he explained.
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