What's Happening?
Savaria Corporation, a leader in the accessibility industry, has announced the acquisition of Vipal S.p.A., an Italian manufacturer of residential lifts and elevators. Vipal, based in Ferentillo, Italy, was founded in 1983 and has evolved from a metalworking
business into a fully integrated elevator manufacturer. The acquisition provides Savaria with a 64,600 square foot factory in Europe, enhancing its manufacturing capabilities and product offerings in the region. Vipal's products, which include elevators and platform lifts, are compliant with European codes and standards. This strategic move is expected to improve Savaria's purchasing efficiencies and support operational excellence across procurement and manufacturing.
Why It's Important?
The acquisition of Vipal S.p.A. by Savaria Corporation is significant as it strengthens Savaria's presence in the European market, a key region for growth in the accessibility industry. By expanding its manufacturing capabilities in Europe, Savaria can better serve the European market with locally produced products, potentially reducing costs and improving delivery times. This move also aligns with Savaria's strategy to become a comprehensive provider of accessibility solutions in Europe. The acquisition could lead to increased competition in the European elevator market, benefiting consumers with more options and potentially lower prices.
What's Next?
Following the acquisition, Savaria plans to integrate Vipal's operations into its existing network, leveraging its extensive dealer and direct store network across Europe to accelerate the growth of Vipal's products. The company will likely focus on enhancing its product offerings and expanding its market share in Europe. Stakeholders, including employees and customers of both companies, may see changes as the integration progresses. Savaria's management has expressed confidence in the potential for growth and innovation resulting from this acquisition.
