Piab acquires Kenos and grips new market
Acquisition enables Piab to enter the large area vacuum gripper
market at full speed. A strategic step towards building the global leader
in industrial automation components.
Piab
has acquired Italian-based Kenos, a
leading company in the market of large area vacuum grippers. Kenos designs and
manufactures gripping systems used in various applications e.g. packaging,
wood, food etc. Piab and Kenos have complementary product offerings and the
combination will enable accelerated growth through cross-selling. Both
companies are recognized for a leading technology platform and are well known
for innovation as well as strong brand and high quality products.
The
combined company will be even better positioned to serve a larger target
market. Piab has global reach with 13 sales offices and more than 900 different
partners well distributed both geographically and across the various industry
segments. Kenos has a specialized product portfolio of high quality that is
highly appreciated within the industry. The combined company will become a
stronger partner for customers world-wide, by providing a broadened product
portfolio and joint expertise on a global scale.
“Given
Piab’s long history of innovation in vacuum technology and our global market
access, combined with Kenos’s innovative range of large area vacuum grippers,
we are very excited about the growth prospects and strength of the combined
company”, says Anders Lindqvist, CEO of Piab Group.
“We
are very happy with Piab as our new owner and firmly believe, that, given
Piab’s heritage of technology leadership and outstanding global reach, the new
organization will be able to bring forward Kenos’ product portfolio very fast
on a global level. We strongly believe that our existing and new customers will
see great benefit from the joining of these two companies and look forward to
continuing to work with the combined group”, says Paolo Valentini, CEO of
Kenos.
The
transaction took place on the 29th of June 2016.
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