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. Vaculex has a strong 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 worldwide, 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,” said 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,” said Ronny Holmsten, CEO at Vaculex.
The transaction took place on the December 30, 2016.
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