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EQT agrees to acquire Swedish industrial technology firm Piab from Altor

Private equity firm EQT has agreed to buy Piab Group Holding from Altor and other minority owners. Financial terms of the deal were not announced. Piab Group supplies industrial vacuum technology solutions like vacuum ejectors, suction cups and vacuum conveyors. Altor acquired Piab in 2006 and since then Piab has doubled its sales and quadrupled its profits, according to reports. Piab is headquartered in Sweden and has approximately 270 employees across the world.

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PE Deals,Altor,EQT,Piab Group Holding,Industrial Technology