Piab Group has entered into an agreement to acquire TAWI Group, a leading manufacturer of smart lifting solutions with global reach. Total sales for TAWI is expected to reach 340 MSEK in 2019. With more than 30 years of history, TAWI adds a solid complementary portfolio of products, very experienced and skilled employees, a strong network of distributors as well as many new customers to Piab. Through this acquisition Piab 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.