Freudenberg-NOK acquires US seals aftermarket company

Plymouth, Michigan – Freudenberg-NOK Sealing Technologies has acquired Seal Aftermarket Products (SAP), a Florida-based, aftermarket company that sells automotive transmission kits and components.

The acquired company will be integrated into Freudenberg Sealing Technologies’ aftermarket business Corteco division, said a company statement 6 Nov.

The financial terms of the transaction were not disclosed.

Corteco specialises in the independent aftermarket with kits and components manufactured under the Corteco and TransTec brands.

According to FST, the integration of SAP will further enhance Corteco’s market strength and expand its reach in the aftermarket transmission space.

SAP brands like Toledo Trans-Kits (TTK) will be maintained under the acquisition.

“This purchase broadens our portfolio and enhances our global footprint in the transmission repair market,” said Christian Dickopf, SVP, FST Corteco division.

The investment, Dickopf said will help Corteco “better reach new and existing customers with a complete line of speciality aftermarket vehicle solutions.”

Furthermore, the acquisition will provide better market access, in regions that it says “it has yet to completely penetrate.”

According to FST, the two TransTec and TTK brands complement one another.

“With TransTec and TTK under one company, we can make both brands stronger,” said Chris Petronella, VP, Corteco North America.

TransTec brand is currently focused on aftermarket sealing products such as gaskets, radial shaft seals, specialty sealing components.

The TTK brand, FST said, will add a focus on hard steel components such as clutches, drum assemblies, and other transmission specialty steel components like valve assemblies that may need replacement in a transmission.

Despite changes in the global vehicle landscape, Dickopf noted that changes in the speciality aftermarket segment will take place more slowly and demand for automotive spare parts for internal combustion engines will grow in regions that rely on older cars.

“We see this as a substantial market and that is why we are investing in it,” Dickopf said.