Vaski Group Oy from Seinäjoki, Finland, a company experiencing robust growth, is expanding through its acquisition of Pivatic Oy, based in Hyvinkää, Finland. The consideration paid marks a significant milestone for Vaski as it continues to strengthen its position in the industry and strives for excellence in manufacturing and innovation.
This acquisition is a merger of equals, where both businesses achieved a record recent order backlog of €11m. After the purchase, combined sales exceed €25m and 100 staff. Notably, Vaski significantly enhances its coil-fed systems business with Pivatic’s focus on coil-fed punching and bending lines for sheet metal processing. Pivatic, which Pivatic is set to celebrate its 50th anniversary next year, in turn makes a leap forward with Vaski’s focus on coil-feeding technologies.
Vaski managing director Michael Mansour says: “Off the back of significant growth in the Vaski business, I’m excited by this combination, creating a new leader in coil-fed systems, leveraging the multi-coil expertise of both companies and bringing Pivatic’s 50 years of tradition into Vaski.”
Jan Tapanainen, Pivatic CEO, adds: “I’m thrilled to be part of this merger which creates significant cross-selling synergies and a clear vision for both businesses moving forward. Vaski and Pivatic come together to create a coil-fed systems champion and world market leader in our sector.”
In 2023, over 18% of Vaski’s revenue was spent on R&D, demonstrating the company’s commitment to technology advancement. With a shared commitment to innovation and quality, Vaski Group is ready to leverage its expertise in developing Pivatic, particularly in strengthening research and development activities.
For further information www.vaski.com
