Piovan Group completes the acquisition of IPEG

In accordance with the agreement signed on December 13, 2021, Piovan has completed its acquisition of IPEG by virtue of the merger by incorporation of Sewickley Capital, the owner of 100% of IPEG, into a newly formed Delaware corporation wholly owned by Piovan.

IPEG is a Delaware-based company operating in the field of industrial chillers and industrial automation for polymer conveying and treatment, with activities and subsidiaries in the United States, India, Mexico, Germany, China, Taiwan and Singapore. With over 700 employees worldwide and revenues of 192 million dollars in the last 12 months, the company operates through four major brands - Conair, Thermalcare, Pelletron and Republic Machine - in four plants in the United States and one in India..

With this operation Piovan can now count on a staff of over 1,800 employees and 14 operating plants worldwide.