Savaria announced that it has acquired all issued and outstanding shares of Vipal S.p.A. Financial terms of the transaction were not disclosed.
Vipal is a manufacturer of residential lifts and elevators based in Ferentillo, Italy. The company was founded in 1983 and manufactures elevators, platform lifts, and related metal structures and components for residential and commercial applications, primarily in the Italian market.
Originally established as a metalworking business, Vipal has evolved into a fully integrated elevator manufacturer. The company has approximately 50 employees and generated trailing 12-month sales of about €8.2 million, or C$13.3 million.
The acquisition gives Savaria elevator manufacturing capabilities in Europe. It also expands Savaria’s accessibility product offering through the addition of elevators and residential lifts.
Vipal operates a scalable 64,600-square-foot factory with vertically integrated operations. The facility includes in-house manufacturing of shafts, cars, controllers, and doors for elevators.
The transaction also adds a portfolio of elevator products that are fully compliant with European codes and standards. Savaria said this creates opportunities to accelerate growth of Vipal’s elevator products through its dealer and direct store network across Europe.
Savaria also expects the acquisition to improve purchasing efficiencies and support operational excellence across procurement and manufacturing at Vipal. The deal supports Savaria’s broader strategy to become a one-stop shop for accessibility in Europe.
Savaria is a global accessibility company that designs, manufactures, distributes, and installs accessibility equipment. Its products include home and commercial elevators, straight and curved stairlifts, vertical and inclined wheelchair lifts, dumbwaiters, pressure management products, medical beds, and patient transfer and lifting solutions.
Savaria operates through a worldwide dealer network and direct sales offices in North America, Europe, and Australia. The company employs approximately 2,550 people globally and operates plants across Canada, the U.S., Mexico, Europe, and China.
KEY QUOTES:
“We are very excited to welcome Vipal to the Savaria family. The addition of Vipal’s residential lifts expands our portfolio in Europe and represents another important step in our strategy to become the one-stop shop for accessibility in Europe.”
Jean-Philippe De Montigny, President Europe Accessibility at Savaria
“We are proud of the manufacturing technologies and know-how we have built at Vipal over many years, and we are confident Savaria is the right partner to accelerate the company’s global growth and help realize its full potential.”
Innocenzo Rossi Bartoli, Managing Director and Principal Shareholder of Vipal
