AESSEAL Takes Majority Equity Interest in Mechanical Seals & Service
NOTE: This release was sent from AESSEAL Inc., a Knoxville Chamber member business.
AESSEAL Inc. announced today that it has taken a majority equity interest in Mechanical Seal & Service, Inc. of Odessa, TX. AESSEAL Inc. is a member of the AES Engineering Ltd. Group of Companies, headquartered in Rotherham United Kingdom. AES Engineering is listed as a private equity holding of 3i Investments. With global operations serving 85 countries, the AESSEAL group is the 4th largest manufacturer of mechanical seals in the global market. Mechanical Seals are machined devices used in industrial pumps and rotating equipment to prevent liquids from leaking to the environment.
Tom Grove, AESSEAL Inc., President commented “we have essentially completed the rigid product development requirements outlined by the American Petroleum Institute under API-682; the investment provides a strategic footprint in the West Texas Oil & Gas market. Additionally, we will integrate Mechanical Seal & Service, Inc. into the seal repair services we currently provide our North American customers. Mechanical Seal & Service, Inc. has expertise repairing certain mechanical seals units that we are unable to repair at our local factory.”
AESSEAL Inc., North American Headquarters recently invested $ 5 million relocating from Knoxville to a new facility in the Stock Creek Industrial Park in Rockford, TN. The company has branch offices in Kingsport, TN., Fairfield, ME., Longview, WA and a subsidiary in Marion, IA.
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