Patricia Industries funds strategic add-on acquisition by Piab Group
Patricia Industries’ subsidiary Piab Group, a leading 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, very experienced and skilled employees, a strong brand, 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.