The acquisition was finalized on August 9, 2022 and is fully funded through internal Piab sources.
“AVAC is a great addition to our automation components business, adding innovative products for especially sealed applications together with a leading solution for train vacuum toilets. The automation market is growing strongly, and we see great opportunities with the addition of AVAC’s competitive portfolio and highly skilled employees, whom I would like to take the opportunity to welcome to Piab”, said Gustav Falconer, president Vacuum Automation Division.
“Piab´s long history of innovation in vacuum technology and global presence will allow for AVAC to further develop as a company while providing a long-term home for our family business and its employees”, added Tom Casinge, Chairman of the Executive Board, AVAC Vakuumteknik.
“By joining the Piab Group, we become part of a leading innovator in the vacuum technology market and together we will strengthen our leading position in the automation market”, said Martin Ekström, CEO, AVAC Vakuumteknik.
