SPX Acquires Torque Tension Systems Ltd.
SPX Hydraulic Technologies, a business unit of SPX Corp.’s Industrial Products and Services segment, has acquired U.K.-based Torque Tension Systems Ltd. (TTS), a global supplier of hydraulic torque wrench and tensioner tool products. The terms of the transaction were not disclosed.
The addition of TTS's line of high-performance industrial bolting tools will expand SPX Hydraulic Technologies' product portfolio offering to the global energy infrastructure markets, particularly the oil and gas and wind sectors.
Based in Northumberland, U.K., privately-held Torque Tension Systems Ltd. had annual revenues of approximately £5.1 million or $7.65 million in 2009. The company's hydraulic bolting product lines include Dura-Lite hydraulic torque wrenches, LDF Torque wrenches, subsea bolt tensioners, hydraulic nut splitters, flange pullers and flange spreaders. In addition to serving the power and energy market, TTS's tools are utilized in the petrochemical, automotive, chemical, railways and shipbuilding industries. The company has additional offices in Australia and Malaysia.
SPX's Hydraulic Technologies is a global manufacturer of high-force hydraulic pumps, cylinders, jacks, pullers and tools, serving customers around the world. With brands that include Globe, Hytec, PowerTeam, Stone, and SPX Rail Systems Clamplock.