Mr. Sebastien Bourassa reports

SAVARIA ESTABLISHES ELEVATOR MANUFACTURING IN EUROPE BY ACQUIRING VIPAL S.P.A.

Savaria Corp. has acquired all issued and outstanding shares of Vipal SpA, 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 12 months, Vipal generated sales of approximately 8.2 million euros ($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 square-foot (6,000-square-metre)-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.

About Savaria Corp.

Savaria 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 and 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 (United Kingdom, 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.

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