Premier Tech Ltée through its Industrial Equipment Group (IEG) has acquired Hapert, Netherlands based Swabo Machinebouw & Toelevering. Financial terms were not disclosed.
Premier Tech is backed by Fonds de solidarité FTQ which provided a $25 million acquisition loan to Premier Tech im Many 2014. Fonds de solidarité currently holds $[mepr-active rule=”374″ ifallowed=”hide”]#SUBSCRIBERS ONLY CONTENT – where and how did you get your news? Subscribe today to see our research on this and all other subscriber ONLY news. Be informed!#[/mepr-active][mepr-active rule=”374″]43.545 million in debt/loan in Premier Tech.[/mepr-active]
photo credit: Premier Tech
News Release
New European Acquisition for Premier Tech
Tuesday, March 13, 2018
Premier Tech is pleased to announce the acquisition of the company Swabo Machinebouw & Toelevering, located in the Netherlands, by its Industrial Equipment Group (IEG). For over 20 years, this company’s business success has been based on specialized and advanced expertise in the manufacture of steel and stainless steel parts for OEMs of all kinds.
Consistent with the company’s strategic vision, this acquisition will enable IEG to secure its mechanical manufacturing supply chain and thereby provide all its European clients with a superior quality integrated business offering. Premier Tech thus brings on board the experience and know-how of nearly 70 people, bringing its global team to 4 200 people.
“Effective management of our supply chain has always been an important strategic lever in deploying our commercial offerings on world markets. The acquisition of Swabo Machinebouw & Toelevering, which shares Premier Tech’s commitment to the success of its clients, will increase IEG’s agility in marketing its packaging technologies and thereby strengthen its position as a leader,” said Jean Bélanger, President and Chief Operating Officer of Premier Tech.