Strategic Expansion

Plymouth, MI., (USA), November 6, 2024 – Freudenberg-NOK Sealing Technologies announced it has acquired Seal Aftermarket Products (SAP), LLC., a Florida-based, aftermarket company that sells automotive transmission kits and components. SAP will be integrated into Freudenberg Sealing Technologies’ Corteco Division. SAP sells a comprehensive line of automatic transmission rebuild kits, hard parts, components, electronic products, and specialty tools. The financial terms of the transaction were not disclosed.

Corteco specializes in the Independent Aftermarket with kits and components manufactured under the Corteco and TransTec brands. The integration of Seal Aftermarket Products (SAP), LLC. will further enhance Corteco’s market strength and expand its reach in the aftermarket transmission space. SAP brands like Toledo Trans-Kits™ (TTK) will be maintained under the acquisition.

Enhancing global footprint

“This purchase broadens our portfolio and enhances our global footprint in the transmission repair market,” said Christian Dickopf, Senior Vice President of Freudenberg Sealing Technologie’s Corteco Division. “Business investments like this one will help us better reach new and existing customers with a complete line of specialty aftermarket vehicle solutions.”

Freudenberg’s purchase of Seal Aftermarket Products (SAP) will change Corteco’s competitive landscape by offering the division more market access, especially in regions that it has yet to completely penetrate. It also offers benefits to the Corteco division in North America by consolidating the specialty aftermarket marketplace.

Corteco was founded in 1996 and sells approximately 26,000 aftermarket products. Components used in its TransTec aftermarket transmission kits are primarily manufactured by Freudenberg Sealing Technologies and adhere to original equipment quality standards, a strong differentiator among aftermarket competitors.

Being stronger – together

Both the TransTec and TTK brands are known for offering quality components to specialty aftermarket customers, with TransTec stronger in some markets and TTK stronger in others, noted Chris Petronella, Vice President, Corteco North America. “With TransTec and TTK under one company, we can make both brands stronger,” he said. “These brands complement one another.”

While the TransTec brand is currently focused on aftermarket sealing products such as gaskets, radial shaft seals, specialty sealing components, the TTK brand will add a focus on hard steel components such as clutches, drum assemblies, and other transmission specialty steel components like valve assemblies that may need replacement in a transmission.

Despite changes in the global vehicle landscape, Dickopf notes that changes in the specialty aftermarket segment will take place more slowly and demand for automotive spare parts for internal combustion engines will grow in regions that rely on older cars.

“We see this as a substantial market and that is why we are investing in it,” Dickopf said. “While there will be a lot of technology transition at the OEM level in the foreseeable future, this is a commitment to the afterlife that internal combustion engine technologies will have for a substantial period of time.”