Savaria Corp. (TSE:SIS) has released an update.
Savaria Corporation has expanded its accessibility industry leadership by acquiring the dumbwaiter and material lift assets of D.A. Matot, Inc., a family-owned business with a 130-year history. The acquisition, which is expected to enhance Savaria’s product portfolio and market position, included a segment that generated US $6.3 million in revenue and US $1.1 million in EBITDA in 2023. The transition includes a period where Matot will continue manufacturing for Savaria, assuring a smooth changeover for customers as operations shift to Savaria’s facilities.
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