Piab Group Acquires TAWI Group, Manufacturer of Lifting Solutions

Glass Magazine

Piab Group entered into an agreement to acquire TAWI Group, a manufacturer of smart lifting solutions with global reach. 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, say company officials. 

“TAWI has a perfect strategic fit to our business,” says Clas Gunneberg, CEO, Piab Group. “The market for smart and ergonomic lifting solutions is growing rapidly thanks to manual lifting processes being automated. We foresee very strong growth opportunities with the addition of TAWI’s competitive product portfolio and highly skilled employees, whom I would like to take the opportunity to welcome to the Piab Group.”

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.

“Piab's long history of innovation in vacuum technology and global market access will allow for TAWI to further strengthen its offer to customers in need of smart and ergonomic lifting solutions,” says Thomas Bräutigam, CEO of TAWI Group. “By joining the Piab Group, TAWI joins an excellent global company, a leading innovator in the vacuum technology market and together we will strengthen our leading position in the semi-automatic lifting market.”