Owings Mills, MD – Platte River Equity (“Platte River”), a Denver-based private equity firm, is pleased to announce that its portfolio company TIPCO Technologies (“TIPCO”) has acquired Potter Associates Inc. (“Potter”). Founded in 1964 and based in Rochester, NY, Potter is a supplier of gaskets, seals, hydraulics and other fluid sealing products to a diverse range of industries including industrial manufacturing, food & beverage, chemical processing and power generation. TIPCO has now completed six add-on acquisitions since partnering with Platte River in December 2023.
“TIPCO is thrilled to welcome third-generation owners Steffen and Kim, along with the entire Potter team, to our growing family of people and partnerships. We are excited to build on Potter’s legacy of world-class sealing products and sanitary solutions throughout upstate New York. Together, we look forward to driving innovation, delivering exceptional service and expanding opportunities for our customers,” said Rob Lyons, CEO of Commercial Business at TIPCO.
“We are excited to join the TIPCO family. This strategic alignment will allow us to reach new markets and expand our product offerings beyond what we could traditionally offer to our customers. As a family-owned business for 60 years, we truly believe this is the right path for the future,” stated Steffan Potter, President of Potter.
“The partnership with Potter expands our sealing and gasket offerings, further strengthening TIPCO’s ability to serve customers with a comprehensive suite of sealing solutions,” added Mike Reilly, Principal of Platte River. “We look forward to working with the talented team at Potter to continue our pursuit of building a premier fluid conveyance solutions provider."
