TIPCO Technologies announced Monday that it has added Potter Associates, a Rochester, New York, provider of hydraulics, gaskets, valves, fittings and other components.
The deal expands TIPCO’s overall footprint to 38 locations in 16 states.
Potter Associates was founded in 1964 by longtime Garlock Packing employee M. Bruce Potter; Steffen Potter, the company’s current president, will continue to lead the business.
Terms of the transaction were not disclosed.
“TIPCO Technologies is thrilled to welcome third-generation owners Steffen and Kim, along with the entire Potter team, to our growing family of people and partnerships,” Rob Lyons, TIPCO’s CEO of commercial business, said in the announcement. “We are excited to build on Potter’s rich legacy of world-class sealing products and sanitary solutions throughout upstate New York.”
“This strategic alignment will allow us to reach new markets and expand our product offerings beyond what we could traditionally offer to our customers,” added Steffen Potter. “As a family-owned business for 60 years, we truly believe this is the right path for the future of Potter.”
The deal follows TIPCO’s acquisition of New Jersey hose supplier Flexline earlier this month.
