Piab acquires vacuum lifting equipment maker Vaculex
Industrial vacuum conveyor maker Piab Group has acquired Vaculex, a Swedish manufacturer of vacuum lifting equipment for industry.
The terms of the deal have not been disclosed.
“We are convinced that this is a great match,” Anders Lindqvist, CEO of Piab Group, said in a statement. “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.”
Piab and Vaculex have complementary product offerings and the combination will enable accelerated growth, Lindqvist added.
The transaction took place on the December 30, 2016.
This was the second major acquisition of 2016 for Piab, which is headquartered in Hingham, Mass. In July, Piab purchased Italy-based Kenos, a manufacturer of large area vacuum grippers, for an undisclosed price.