As part of its strategy to broaden the company’s offering of fluid system technology products and services, Swagelok Company has acquired the assets of Innovative Pressure Technologies (IPT). Erie, Pennsylvania-based, IPT is a manufacturer of subsea valves, fittings and fluid control devices used primarily in oil and gas, chemical and petrochemical, automotive, water blasting, waterjet cutting and similar applications.
Terms of the purchase have not been disclosed.