Patricia Industries’ subsidiary Piab Group, a gripping and moving solutions provider, has acquired Alum-a-Lift, a US-based provider of electronic lifting trolleys. Alum-a-Lift adds a portfolio of premium products known for the highest quality standards, experienced and skilled employees, and new customers in several industries, including semiconductors, aerospace and logistics, to the Piab Group.
For the 12-month period ending December 2023, Alum-a-Lift’s revenues amounted to approximately USD 26m with a margin that is slightly accretive to the Piab Group. The company has 80 employees. The total consideration amounts to USD 120m on a cash- and debt-free basis, of which USD 100m will be funded by equity from Patricia Industries.
“We have a strong pipeline of strategic add-on acquisitions, and it is encouraging to see Piab Group executing again, following its recent strategic acquisitions. It is a key priority for us to continue growing our platform companies within Patricia Industries,” said Christian Cederholm, President/CEO, Investor.
“We are excited about the acquisition of Alum-a-Lift as it strengthens Piab Group in several dimensions, including the product offering, geographic reach, and exposure to industries such as semiconductors. We see a strong strategic fit and great opportunities for the combined businesses to create value,” added Thomas Kidane, co-head, Patricia Industries.
