Piab Acquires Vaculex and Strengthens Growth Prospects
Piab has acquired Sweden based Vaculex, a leading manufacturer of lifting equipment based on vacuum technology. With 30 years of experience Vaculex designs, manufactures and sells ergonomic lifting systems for various applications, e.g. baggage handling, packaging, distribution and logistics. Piab and Vaculex have complementary product offerings and the combination will enable accelerated growth. Both companies have strong brands and are recognized for leading technology platforms, innovation, safety and high quality products. Piab has 13 sales offices and more than 900 partners with well-balanced geographical and segment coverage. Vaculex has a strong high-quality product portfolio that is well positioned in its target segments via its network of sales offices and distributors. The combined company will become a stronger partner for customers world-wide, by providing an extended product portfolio and joint expertise with global reach.
“We are convinced that this is a great match. Our partners around the globe have repeatedly requested Vaculex type products. This market is growing rapidly due to manual lifting operations being increasingly automated. We are very excited about the growth prospects and strength of the combined company”, says Anders Lindqvist, CEO of Piab Group.
“Piab’s long history of innovation in vacuum technology and global market access, combined with Vaculex’s innovative product range, will shape a new and stronger business partner. We strongly believe that the new formed company will serve the market even better. I am really looking forward to working with the combined group”, says Ronny Holmsten, CEO at Vaculex.
The transaction took place on the 30th of December, 2016.