Swagelok Co. has acquired the assets of Innovative Pressure Technologies (IPT) in Erie, Pa. as part of its strategy to broaden the company's offering of products and services for fluid system technology customers around the world.
IPT is a manufacturer of quality high- and medium-pressure and sub-sea valves, fittings and fluid control devices used mostly in oil and gas, chemical/petrochemical, waterjet cutting, automotive, water blasting and other demanding applications. Terms of the purchase were not disclosed.
"We're excited to welcome the IPT team to Swagelok," said Arthur Anton, president and chief executive officer of Swagelok. "These products will help meet customer demands for using higher pressures in their applications. The IPT acquisition allows us to offer a more robust valve portfolio."
Headquartered in Solon, Ohio, Swagelok is a developer and provider of fluid system solutions, including products, assemblies and services for the research, instrumentation, pharmaceutical, oil and gas, power, petrochemical, alternative fuels, and semiconductor industries.