Waterford-based medical technology company Schivo has acquired APN Global, a Canadian surgical device maker, for an undisclosed sum.
APN was founded in 1970 and is based in Quebec, Canada. The acquisition of APN will grow Schivo’s presence and proximity to customers in Canada as well as emerging customers in North America, Central Europe and Asia.
Schivo was orginally known as Waterford Tool and was founded as a precision engineering facility supporting local companies such as Waterford Crystal and the local motor industry.
This acquisition follows Schivo's acquirement of Supreme Screw Products earlier this year.
“The acquisition of APN Global is strategically aligned with our vision to expand our presence in high-growth markets,” said Graham Reeves, Schivo CEO.
Yves Proteau, co-president of APN Global, will join Schivo’s leadership team as senior vice president of manufacturing and technology systems following the acquisition.
“The investment from Schivo comes at the perfect time for APN. Schivo, which operates in markets with great potential, is a company that has the ability to give APN the means to achieve its ambitions,” he said.
