U.S. Market Leader in Automobile Mobility Products Solidifies Ownership Stake in European Challenger Brand
WINAMAC, Indiana, April 3, 2018 /PRNewswire/ -- BraunAbility, the U.S. market leader in wheelchair accessible vehicles and wheelchair lifts, has acquired the remaining shares of European mobility manufacturer Autoadapt AB.
Autoadapt, based in Stenkullen, Sweden, along with its wholly owned subsidiaries Unwin, based in Martock, United Kingdom, and Martech, based in Kliplev, Denmark, provide products for people with limited mobility. All three companies combined to do more than $50 million (USD) in revenue in 2017.
"BraunAbility's mission is to make life a moving experience for all," said BraunAbility CEO Staci Kroon. "That means we need to look for partners in every continent who deliver quality products consistently and share the values we hold so dear. Autoadapt will help us change more lives, develop innovative products and expand our global reach."
BraunAbility previously owned 47.5 percent of Autoadapt from a 2011 purchase. Since that time, Autoadapt has been the sole distributor of BraunAbility lifts in Europe. BraunAbility is owned by Patricia Industries, a part of Investor AB, the leading owner of Nordic-based international companies, founded by the Wallenberg family more than 100 years ago.
Autoadapt will join BraunAbility as part of a roster of high-quality, high-growth companies in the Patricia Industries portfolio, including Permobil, the innovative provider of powered and manual wheelchairs for people with severe functional disabilities.
"There's nothing I'm more proud of than how far we've managed to come with Autoadapt," said Autoadapt founder Peter Wahlsten. "Together with our employees and dealers we've brought vehicle adaptation to the masses, including to countries where people with disabilities previously weren't allowed to drive."
Wahlsten continued, "Looking forward, I believe this step will go down in Autoadapt's history as a major turning point. As an owner, BraunAbility brings both strength and experience that will facilitate growth and improve clarity in Autoadapt's continued direction. But most important for me and all my colleagues at Autoadapt, we have an owner who shares our values."
The acquisition is subject to approval by the relevant competition authorities, with closing expected by mid-April 2018.
About Autoadapt AB
Founded in 1996, Autoadapt is a developer and manufacturer based in Sweden. The company's main focus lies on products that aid people with limited mobility to drive and ride in cars. Notable products are the Turny swivel seats and the Carony transfer wheelchairs. Within the industry, Autoadapt is synonymous with high safety standards and product testing.
Autoadapt's products are available all over the globe via an extensive dealer network.
Unwin, an Autoadapt company is trusted across the world for safe wheelchair transport, delivering crash-tested solutions to improve independent living for wheelchair users and maximise accessibility for all.
BraunAbility is the world's leading manufacturer of wheelchair accessible vehicles and wheelchair lifts. Founded nearly 50 years ago by Ralph Braun the company has grown into the most well-known and trusted name in the mobility industry, bringing independence to millions of individuals across the world. BraunAbility is a wholly owned subsidiary to Patricia Industries, a division of Investor AB Group. Visit www.braunability.com for more information.
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