Freudenberg acquires Trygonal Group to strengthen service business
Key Highlights:
- Freudenberg has acquired the Trygonal Group - effective April 30, 2024 - strengthening its global business unit Freudenberg Xpress.
- The acquisition is an important milestone in the current corporate strategy to increase the service business and both parties have agreed not to disclose the purchase price.
- With the acquisition, Freudenberg Xpress is further expanding the capacities of its existing core business with CNC-turned products.
Sealing manufacturer Freudenberg Sealing Technologies has acquired the Trygonal Group effective April 30, 2024, strengthening its global business unit Freudenberg Xpress, an expert in small and medium batch sizes, rapid prototyping, and customer-specific sealing solutions. The acquisition is an important milestone in the current corporate strategy to increase the service business. The parties have agreed not to disclose the purchase price. The takeover is still subject to approval by the antitrust authorities.
The Trygonal Group recently generated annual sales of over 30 million euros. 220 employees at eight locations in Germany, Spain, Austria and in Switzerland produce high-quality, customized sealing solutions in the areas of thermoplastics, elastomers and rubber-metal compounds using a wide range of manufacturing processes.
"The acquisition of the Trygonal Group strategically expands the current Freudenberg Xpress service offering," explained Sebastian Grünschloß, vice president Global Freudenberg Xpress & Service Platforms. "Thanks to the expanded regional coverage and additional manufacturing capabilities, we can significantly increase our service offering."
With the acquisition, Freudenberg Xpress is thus further expanding the capacities of its existing core business with CNC-turned products. "In addition, complementary manufacturing processes for small and medium production volumes will allow us to increase our service promise in the area of customer-specific product solutions," Grünschloß continued.
The acquisition also allows a significantly expanded range of Freudenberg's own materials to be included in the Freudenberg Xpress portfolio, explained Grünschloß. "Freudenberg's materials competence and expertise are currently more in demand than ever. It is therefore a strategic decision for Freudenberg Xpress to make even greater use of this capability in order to offer even better solutions tailored to the customer."