Investor AB's Piab Buys Vacuum Automation Equipment Manufacturer
Provided by
Dow Jones
By Dominic Chopping
STOCKHOLM--Swedish industrial holding company Investor AB said Tuesday that its portfolio company Piab has acquired Coval, a manufacturer of vacuum automation components and systems.
Financial terms of the deal weren't disclosed, but the company said the acquisition will be funded with 20 million euros ($21.6 million) in equity from Investor's Patricia Industries, in addition to cash from Piab and external debt.
Coval's 2022 revenue totaled around EUR23 million while adjusted earnings before interest, tax, depreciation and amortization was around EUR5 million, Investor said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
March 28, 2023 09:11 ET (13:11 GMT)
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