Balmoral Group, a diversified investment group dedicated to creating lasting impact through strategic business investments, announces the completion of the sale of Balmoral Comtec (Comtec) to Freudenberg Flow Technologies (Freudenberg), a leading international manufacturer of industrial solutions for sealing and connectors and part of the Freudenberg family-owned global group of companies.
Following the completion of the deal, Comtec will continue to operate as usual from its existing locations, with no immediate changes to its name, day-to-day activity, customer contracts, delivery schedules, staffing levels or points of contact. Both Comtec and Freudenberg recognize that the strength of the business lies in its existing team and are committed to maintaining continuity for employees, customers and partners.
The sale will allow Comtec to continue its development, while enabling Balmoral Group to sharpen its focus on its long-term strategy of investing in high-potential businesses, using profits to support community and charitable initiatives.
Sir Jim Milne CBE, Chairman at Balmoral Group, said: “We are pleased to have found a buyer in Freudenberg that shares our values, our commitment to innovation and our belief in the strength of Comtec’s people.
“Comtec, a division of Balmoral Group, has been central to the business since its founding in 1980. Established with just four employees, it has grown into a leading global solutions provider in its market. Today, the division employs more than 400 people, with its headquarters in Aberdeen and offices in Glasgow and Houston.
“Over the past four decades, Comtec has delivered more than 4,500 projects, with around 80% carried out internationally. Its growth and global reach have played a key role in the evolution of Balmoral Group, which has since expanded into five divisions.
“This sale enables Balmoral Group to build on that success through future investment, supporting continued growth while advancing its wider vision to strengthen communities through the Milne Family Foundation and its partner charity, Friends of ANCHOR.”
Recognized as an innovator in its field, Comtec provides concept development, design, engineering, manufacturing and testing of polymer-based product solutions for sectors including oil and gas and renewable energy. The sale will provide Comtec with the backing of a global industrial group, supporting continued technical expertise, innovation and service for customers across offshore energy markets.
For Freudenberg, Comtec strengthens its capabilities in specialist offshore energy solutions and expands its presence in markets where reliability, technical performance and long-term customer support are critical.
Jason Kollatschny, CEO Connectors and Sealing Solutions at Freudenberg Flow Technologies said, “Under Balmoral Group’s ownership, Comtec has developed into a highly respected specialist in offshore energy solutions, with a strong track record of innovation, technical performance and customer service. We see a strong strategic fit between Comtec and Freudenberg Flow Technologies and look forward to working with the team to deliver continued innovation for customers across global offshore energy markets.”
Balmoral Group and Freudenberg are working closely to support continuity throughout the transition.
