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Savaria announces acquisition of H.E.S. Elevator Services inc.

Apr. 13, 2018 6:05 AM ETSavaria Corporation (SISXF) Stock, SIS:CA StockBy: Niloofer Shaikh, SA News Editor
  • Savaria Corporation (OTCPK:SISXF) has acquired all of the assets of H.E.S. Elevator Services Inc. for a purchase price of ~ $1.1M (C$1.4M).
  • “Our two companies have prospered from a great relationship during the past 5 years and we look forward to building on this foundation in the future. This latest transaction complements our asset purchase of luxury elevator maker Visilift in Colorado, and will help strengthen our direct sales and installation presence in a market featuring beautiful custom mountain homes. We are fortunate that the principals have agreed to remain involved in management roles to ensure a smooth transition for Savaria and the staff at H.E.S.,” said Marcel Bourassa, Chief Executive Officer and President of Savaria.
  • Press Release

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