Total Seal Piston Rings, a high-performance ring design firm founded by Joe Moriarty more than 50 years ago, has been sold to an investment group led by Promus Equity Partners, Jon S. Vesely and Total Seal President Matt Hartford.
The sale was finalized June 7 and publicized through a joint statement delivered by Joey Moriarty, son of founder Joe Moriarty, Promus Equity Partners, Vesely and Hartford.
"My dad would be pleased that Matt is carrying on Total Seal, maintaining the integrity of the company and furthering our position as the leaders in Piston Ring technology for racing and high performance markets," said Joey Moriarty.
"I'm looking forward to continuing our development of the very latest in piston ring designs for the racing and automotive industry,” Hartford said. “We have some very exciting new advancements that will further solidify our leadership position."
Hartford served as vice president of the company since joining Total Seal in 1998, and is now the CEO and president.
Promus Equity Partners and Vesely, chairman of Total Seal, said: “We’re grateful to partner with Total Seal’s Matt Hartford to position the company for its next chapter with a plan to make ongoing investments in the company to serve our valued customers all over the globe for years into the future. Total Seal has a reputation of leading the industry in all the markets it serves and we are very excited about the future for the company, building on their strengths and expanding their reach.”
For additional information, call 800-874-2753 or visit TotalSeal.com.