13 03 2016EQT acquires Piab Group Holding AB from Altor
EQT VII has entered into an agreement to acquire Piab Group Holding AB from Altor Fund II and other minority owners.
Founded in 1951 by the Swedish Tell family, Piab is a global technology leader within vacuum ejectors, suction cups and vacuum conveyors that serve to improve the energy-efficiency, productivity and working environments of customers across a broad range of industries, including food, pharmaceuticals, packaging and automotive. Piab is today headquartered in Sweden and has approximately 270 employees across the world.
Piab operates in a fragmented niche market supplying â€śline criticalâ€ť products to a broad range of customers. Strong underlying market growth is primarily driven by increasing automation of manufacturing processes and increasing customer preferences for vacuum solutions which gives higher energy efficiency, lower noise and better hygiene standards.
Â The transaction is subject to customary approval from competition authorities, and is expected to close in early 2016.
EQT is a leading global private equity group with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and 140,000 employees.
Jones Day advised EQT in the acquisition with a team led by Adriane Sturm. Involved fees earner: Adriane Sturm - Jones Day;
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