Piab Group, Stockholm, Sweden, has acquired COVAL, a major global player in vacuum automation components and systems. With more than 35 years of history, COVAL adds a solid portfolio of premium products, highly experienced and skilled employees, a strong brand known for the highest quality standards and many new customers to Piab Group. The transaction is fully funded through a combination of external and internal sources.
“We are very much looking forward to bringing the COVAL team into the Piab family, and we see a great culture fit routed in a strong passion for the future of robotics and automation,” said Peter Laurin, CEO of Piab Group.
“Piab Group·s long history of innovation in vacuum technology and global presence will allow for COVAL to further develop and provide a long-term home for our family business and its employees,” said Michel Cecchin, owner and CEO of COVAL.
For more information, visit www.piab.com.