EQT's Piab bolts on SAS Automation

Piab is a supplier of vacuum ejectors, conveyors and suction cups for lifting and holding objects in automated factory processes. With the acquisition, Piab strengthens its presence in North America after initially expanding in Asia, particularly in China. The deal was financed from EQT's €6.7bn fund EQT VII.

EQT acquired industrial vacuum technology company Piab from Altor for approximately SEK 3bn in December 2015.

Company
Founded in 1996 and headquartered in Xenia, Ohio, SAS is a developer and manufacturer of mechanical grippers and robotic end-of-arm tooling systems.

People
EQT – Harry Klagsbrun (partner).
Piab – Anders Lindqvist (CEO).

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• Topics
• Expansion
• Region
• Technology
• Acquisition finance
• EQT
• United States
• Build-up