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Savaria Announces Acquisition of Vipal S.p.A.

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Savaria (SIS.TO) is acquiring Vipal S.p.A., a manufacturer of residential lifts and elevators based in Ferentillo, Italy, it said Thursday.

This will provide Savaria with elevator manufacturing capabilities in Europe and a scalable 64,600 sq. ft owned factory with vertically integrated operations, said the company.

"The addition of Vipal's residential lifts expands our portfolio in Europe and represents another important step in our strategy to become the one-stop shop for accessibility in Europe," said President Europe Accessibility, Jean-Philippe De Montigny.

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