Nature of Business
AESSEAL is a major specialist in the design and manufacture of mechanical seals and support systems. Mechanical seals are used in pumps and rotating equipment to prevent liquids and gases from escaping into the environment. The company’s customer base is in the oil and gas, paper, water, mining, pharmaceutical and petrochemical sectors worldwide. AESSEAL operates from 230 locations in over 30 countries and is now the 4th largest mechanical seal company in the world with exports to 110 countries.
AESSEAL has won various industry awards, including twelve Queen’s Awards for Enterprise.
We invested in AESSEAL for a 25% stake in 1996, when we introduced a new Non-Executive Director, Hamdi Conger, who is highly experienced at growing international industrial businesses.
After a successful period in which AESSEAL consistently delivered its ambitious growth forecasts, we were challenged by CEO, Chris Rea, to back AESSEAL’s next phase of growth to enable the business to become an international leader. We recognised the global potential for the business and increased our stake to 40% in October 2007, allowing Chris to retain a majority interest and control of the business. At this time Hamdi Conger became Chairman of AESSEAL.
We have worked closely with the AESSEAL Board to implement value-based pricing and strengthen the management team.
The company continues to invest for future growth in both people and world-class manufacturing facilities.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc.