Freudenberg Group has strengthened its energy sector portfolio through the acquisition of Balmoral Comtec.
The acquisition is part of Freudenberg Flow Technologies’
expansion of its Connectors and Sealing Solutions business, which serves the
global energy industry with sealing and connector systems.
Balmoral Comtec, based in Aberdeen, Scotland, brings more
than 45 years of experience in engineered buoyancy, cable protection, and
thermal insulation solutions for offshore oil and gas and wind energy projects.
The company employs around 400 staff across three UK sites
and supports projects across Europe, South America, and Asia in both
traditional and renewable energy markets. Financial terms were not disclosed.
“The acquisition of Balmoral Comtec not only expands our
current business in the conventional energy segment,” explains Jason
Kollatschny, CEO Connectors and Sealing Solutions. “Thanks to the diversified
product offering it grows our portfolio of products supporting the energy
transition.”
With the acquisition, Freudenberg Flow Technologies further
expands the capacities of its existing core business with products tailor-made
for the Oil & Gas and Energy Transition markets. “Balmoral Comtec’s product
portfolio complements our existing solution offering. The acquisition is an
important milestone on our path to becoming the leading integrated solution
provider for critical sealing systems, buoyancy and cable protection products,
services, Engineering & Technology as well as Digitalisation & Monitoring
solutions to our global customer base,” Kollatschny emphasises. -OGN/TradeArabia News Service
