Patricia Industries to fund strategic add-on acquisition by Piab
As announced earlier today, Piab, a leading provider of gripping, lifting and moving solutions for end-users and machine manufacturers, has signed an agreement to acquire Joulin, a French provider of vacuum grippers and gantry robots for automated wood handling and other segments. In 2021, Joulin’s total sales amounted to approximately SEK 150m, with profitability in line with the Piab Group. The total consideration amounts to approximately SEK 560m on a cash and debt-free basis, which will be funded partly with equity from Patricia Industries. “Growing our great platform companies