Hannes Snellman Advises EQT in the Acquisition of Piab from Altor
EQT VII Fund (“EQT”) has entered an agreement to acquire Piab Group Holding AB (“Piab”) from Altor Fund II and minority shareholders. Hannes Snellman is advising EQT in relation to the acquisition, including with respect to patents and IPR, acquisition financing, merger control filings and other legal aspects of the agreed transaction.
Piab was founded in 1951 by the Tell family and is a global technology leading company within vacuum ejectors, suction cups and vacuum conveyors, which are used to improve the energy efficiency, productivity and the working environment for customers within a broad spectrum of industries, such as the food, pharmaceuticals, packaging and automotive industries. Piab is headquartered in Sweden and has c. 270 employees globally.
EQT will support Piab’s management in the company’s continued global growth through new product launches and investments in sales initiatives. Jacob and Peter Tell, members of Piab’s founding family, will remain as owners and will continue to support Piab’s development.
Hannes Snellman’s team consists of, among others, Jan Jensen, Shoan Panahi, Peter Issa, Patrik Erblad, Emelie Svensson and Sebastian Wallin in relation to M&A and corporate; Paula Röttorp, Klara Kjellberg and Johan Zeidler regarding acquisition financing; Peter Forsberg and Axel Resvik with respect to competition matters; and Panu Siitonen and Emilia Uusitalo on patent and other IPR matters.