Acquisition
Piab takes over the Tawi Group
Piab acquires the Tawi Group, a manufacturer of intelligent lifting solutions.
Tawi's total sales are expected to reach SEK 340 million in 2019. With more than 30 years of history, Tawi adds a complementary product portfolio to Piab, Piab aims to strengthen its position in semi-automated lifting equipment with the acquisition. The acquisition is expected to be completed in January 2020. The transaction will be fully financed through existing credit facilities and cash.
Clas Gunneberg, CEO of Piab Group: "The market for intelligent and ergonomic lifting solutions is growing rapidly as manual lifting operations are automated. We see very good growth opportunities through Tawi's competitive product portfolio and highly skilled employees, who I would like to welcome to the Piab Group." Thomas Bräutigam, CEO of the Tawi Group: "Piab's long experience with innovation in vacuum technology and global market access will enable Tawi to further strengthen its offering for customers requiring intelligent and ergonomic lifting solutions."
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