Italy’s Piovan Group is set to acquire IPEG Inc., parent company to Conair Group, Thermal Care Inc., Pelletron Corp. and Republic Machine.
Based in Santa Maria di Sala, Piovan Group has a stable of brands that includes auxiliary equipment manufacturer Una-Dyn and cooling systems provider Aquatech.
The combined group will have a workforce totaling 1,800 employees, 14 facilities globally and pro forma annual sales topping $508 million. The deal is expected to close in the first quarter of 2022.
“We are particularly pleased and proud to combine our skills with those of the IPEG Group, creating the global leader in industrial automation in the plastics sector,” said Nicola Piovan, executive chairman of the Piovan Group. “Two years ahead of schedule, we have doubled our size since the year of the IPO and we are confidently prepared to meet future challenges and to take advantage of any further aggregation opportunities that may arise.”
The acquisition will bring into the Piovan fold Niles, Ill.-based Thermal Care, which provides cooling technologies; auxiliary equipment maker Conair, Cranberry Township, Pa.; conveying and dedusting equipment provider Pelletron, Lancaster, Pa.; and Republic Machine, which manufactures shredders in Louisville, Ky.
