Piab Group now claims to be the “global leader in ergonomic handling solutions” after its acquisition of the TAWI Group.
Piab Group entered into the agreement to acquire TAWI Group recently. TAWI is a manufacturer of smart lifting solutions with global reach.
Total 2019 sales for TAWI is expected to reach 340 million Swedish krona, which is about $36 million.
With more than 30 years of history, Piab says TAWI adds a “solid complementary portfolio of products, very experienced and skilled employees, a strong network of distributors as well as many new customers”.
Through this acquisition, Piab says it is evolving automation by taking a world-leading position in semi-automated lifting products.
The acquisition is expected to be completed in January 2020. The transaction is fully funded with debt through existing credit facilities and cash at hand.
Clas Gunneberg, CEO Piab Group: “TAWI has a perfect strategic fit to our business. The market for smart and ergonomic lifting solutions is growing rapidly thanks to manual lifting processes being automated.
“We foresee very strong growth opportunities with the addition of TAWI’s competitive product portfolio and highly skilled employees, whom I would like to take the opportunity to welcome to the Piab Group.”
Thomas Bräutigam, CEO of TAWI Group, says: “Piab ́s long history of innovation in vacuum technology and global market access will allow for TAWI to further strengthen its offer to customers in need of smart and ergonomic lifting solutions.
“By joining the Piab Group, TAWI joins an excellent global company, a leading innovator in the vacuum technology market and together we will strengthen our leading position in the semi-automatic lifting market.”
David Collins, VP ergonomic handling division of Piab Group, says: “Increasing well-being is an ever- growing priority for employers around the world. The acquisition of TAWI allows Piab to offer even more solutions to create an effective and safe working environment.”