EnPro Industries Announces Acquisition of Qualiseal

Category:

M&A
Thursday, June 1, 2017 6:30 am EDT

Dateline:

CHARLOTTE, N.C.

Public Company Information:

NYSE:
NPO

CHARLOTTE, N.C.--(BUSINESS WIRE)--EnPro Industries, Inc. (NYSE: NPO), a leading manufacturer of engineered industrial products, today announced the acquisition of the assets of Qualiseal Technology (“Qualiseal”), a privately-held company offering custom-engineered mechanical seals for demanding applications in the aerospace industry and other markets. Qualiseal will become part of EnPro’s Technetics Group, a leading manufacturer of engineered products for demanding environments, specializing in solutions for the aerospace, power generation, semiconductor, and high-performance industrial markets. Qualiseal was acquired from QCC, LLC, a portfolio company of Promus Equity Partners, LLC, in a cash transaction. Lincoln International served as financial advisor to QCC, LLC. Terms were not disclosed.

Qualiseal, headquartered in Harwood Heights, IL, is a highly respected supplier of custom-engineered mechanical face and circumferential seals for demanding aerospace and industrial applications. Qualiseal expands Technetics Group’s presence in the aerospace market and complements its growing mechanical seals product line. The company brings a highly skilled and experienced workforce of approximately 50 employees. The company will continue to conduct business under the Qualiseal Technology name.

Gilles Hudon, President of Technetics Group said, “We are excited by Qualiseal’s aerospace applications and engineering expertise, presence on next generation and legacy commercial and military programs, and strong reputation as a trusted supplier. We welcome the Qualiseal team to EnPro and Technetics Group, and we are excited about the benefits this business combination will afford our customers and employees.”

Rob Stuebing, Vice President and General Manager of Qualiseal said, “Qualiseal has a 25+ year record of providing custom-engineered sealing solutions for the most difficult and highest tolerance applications in extreme conditions, such as high pressures, shaft speeds, and temperatures. While we have experienced consistent growth throughout our history, we believe that Qualiseal and Technetics Group’s combined scale will provide new and better opportunities to serve our customers and, in so doing, will provide opportunities for our employees. Technetics Group’s and Qualiseal’s cultures are highly complementary, and I am excited to join the Technetics Group team.”

Commenting on the acquisition of Qualiseal, Steve Macadam, President and Chief Executive Officer of EnPro Industries said, “The acquisition of Qualiseal represents a clear commitment to Technetics Group’s strategic plan to expand its presence in the sealing arena and increase its engineered content on next generation aerospace platforms. Among the many attributes of the company, we are especially impressed with their strong customer relationships, technical prowess, and proven ability of the management team and workforce.”

About EnPro Industries

EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company’s website at http://www.enproindustries.com.

Contact:

EnPro Industries, Inc.
Investor Contact:
Chris O’Neal, 704-731-1527
Vice President, Strategy, Corporate Development & Investor Relations
chris.oneal@enproindustries.com