LAVAL, Quebec, July 02, 2026 (GLOBE NEWSWIRE) -- Savaria Corporation ("Savaria") (TSX: SIS) one of the global leaders in the accessibility industry, is pleased to announce the acquisition of all issued and outstanding shares of Vipal S.p.A. ("Vipal"), a manufacturer of residential lifts and elevators based in Ferentillo, Italy.
Founded in 1983, Vipal manufactures elevators, platform lifts, and related metal structures and components for residential and commercial applications, primarily within the Italian market. Originally established as a metalworking business, the company has evolved into a fully integrated elevator manufacturer with approximately 50 employees.
For the trailing twelve months, Vipal generated sales of approximately €8.2 million (C$13.3 million).
Strategic Rationale
- Provides Savaria with elevator manufacturing capabilities in Europe, expanding its accessibility product offering through the addition of elevators and residential lifts.
- A scalable 64,600 sq. ft (6,000 sqm) owned factory with vertically integrated operations, including in-house manufacturing of shafts, cars, controllers, and doors for elevators.
- Adds a portfolio of elevator products fully compliant with European codes and standards.
- Creates opportunities to accelerate growth of Vipal elevator products through Savaria's extensive dealer and direct store network across Europe.
- Expected to improve purchasing efficiencies and support operational excellence across procurement and manufacturing within Vipal.
- We are very excited to welcome Vipal to the Savaria family. 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 Jean-Philippe De Montigny, President Europe Accessibility.
- We are proud of the manufacturing technologies and know-how we have built at Vipal over many years, and we are confident Savaria is the right partner to accelerate the company's global growth and help realize its full potential," said Innocenzo Rossi Bartoli, Managing Director and Principal Shareholder, Vipal S.p.A.
About Savaria Corporation
Savaria Corporation (corp.savaria.com) is one of the global leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as elevators for home and commercial use, stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and dumbwaiters. In addition, Savaria manufactures and markets a comprehensive selection of pressure management products, medical beds, as well as an extensive line of medical equipment and solutions for the safe movement of patients, such as transfer, lifting and repositioning aids. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic) and Australia. Savaria employs approximately 2,550 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.
Forward-Looking Statements
This press release includes certain statements that are "forward-looking statements" within the meaning of the securities laws of Canada. Any statement in this press release that is not a statement of historical fact may be deemed to be a forward-looking statement. When used in this press release, the words "believe", "could", "should", "intend", "expect", "estimate", "assume" and other similar expressions are generally intended to identify forward-looking statements. It is important to know that the forward-looking statements in this document describe the Corporation's expectations as at the date hereof, which are not guarantees of future performance of Savaria or its industry, and involve known and unknown risks and uncertainties that may cause Savaria's or the industry's outlook, actual results or performance to be materially different from any future results or performance expressed or implied by such statements. The Corporation's actual results could be materially different from its expectations if known or unknown risks affect its business, or if its estimates or assumptions turn out to be inaccurate.
A change affecting an assumption can also have an impact on other interrelated assumptions, which could increase or diminish the effect of the change. As a result, the Corporation cannot guarantee that any forward-looking statement will materialize and, accordingly, the reader is cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements do not take into account the effect that transactions or special items announced or occurring after the statements are made may have on the Corporation's business. For example, they do not include the effect of sales of assets, monetizations, mergers, acquisitions, other business combinations or transactions, asset write-downs or other charges announced or occurring after forward-looking statements are made.
Unless otherwise required by applicable securities laws, Savaria disclaims any intention or obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing risks and uncertainties include the risks set forth under "Risks and Uncertainties" in Savaria's latest Annual MD&A as well as other risks detailed from time to time in reports filed by Savaria with securities regulators in Canada.
For further information:
| Sébastien Bourassa | Stephen Reitknecht, CPA, CA |
| President and CEO | Chief Financial Officer |
| 1. 800.661.5112 | 1.800.661.5112, ext. 3370 |
| sb@savaria.com | sreitknecht@savaria.com |
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