Freudenberg acquires offshore subsea specialist Balmoral Comtec

(WO) — Freudenberg Flow Technologies has completed its acquisition of Balmoral Comtec, expanding its offshore energy and subsea infrastructure portfolio with buoyancy, cable protection and insulation technologies used in offshore oil, gas and renewable energy developments. 

The transaction closed May 15 and positions Balmoral Comtec for further growth under the ownership of the Germany-based Freudenberg Group. Financial terms were not disclosed.

Balmoral Comtec supplies subsea buoyancy, cable protection and insulation systems supporting offshore field developments and subsea infrastructure projects.

According to the companies, the acquisition strengthens Freudenberg Flow Technologies’ offshore energy capabilities and broadens its offering of connector, sealing, buoyancy and cable protection systems for global offshore markets.

The companies said Balmoral Comtec will continue operating from its existing locations with no immediate changes to staffing, customer contracts or day-to-day operations.

Bill Main, who previously announced plans to retire, will remain with the business during a transition period. Chris Lee, vice president of Freudenberg’s connectors product segment, is expected to assume managing director responsibilities over time.

The transaction also marks a strategic shift for Balmoral Group, which said it will sharpen its focus on operating as an investment office overseeing businesses including Balmoral Tanks, Balmoral Business Park, Marcliffe and Blaze Manufacturing Solutions.

Freudenberg operates in more than 60 countries and serves multiple industrial sectors, including offshore energy, industrial technology and advanced manufacturing.