Vaski Group Oy from Seinäjoki, Finland, a company experiencing robust growth, expands through the acquisition of Pivatic Oy, 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 combination is a merger of equals where both businesses achieved a record recent order backlog of €11 million. After the purchase, the combined sales exceed €25 million and 100 staff.
Vaski significantly enhances its coil fed systems business with Pivatic’s focus on coil fed punching and bending lines for sheet metal processing. Pivatic in turn makes a leap forward with Vaski’s focus on coil feeding technologies for industry.
Vaski Managing Director, Michael Mansour, delightedly remarks “off the back of significant growth in the Vaski business, I am excited by this combination, creating a new leader in coil fed systems leveraging both companies’ multicoil expertise and bringing Pivatic’s 50 years of tradition into Vaski.”
Jan Tapanainen, Pivatic CEO, adds “I am thrilled to be part of this merger creating significant cross selling synergies and a clear vision for both businesses in the future. 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 revenue was spent on research and development, demonstrating Vaski’s commitment to technology advancement in industrial machinery. 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.
Both Vaski and Pivatic have solidified their position as international enterprises, with over 90% of products exported. Established in 2015 as Rodstein, Vaski underwent a name change in 2020 commencing a rapid growth phase. Pivatic is set to celebrate its 50th anniversary next year.