BraunAbility expands presence in Europe with acquisition of Autoadapt
BraunAbility, the U.S. market leader in wheelchair accessible vehicles and wheelchair lifts, has acquired the remaining shares of European mobility manufacturer Autoadapt AB, along with its wholly-owned subsidiaries Unwin, based in the UK and Martech, based in Denmark.
The Swedish-based Autoadapt and its subsidiaries provide a range of products specialising in adapted vehicles for those with limited mobility, with all three companies combined generating more than $50 million (USD) in revenue in 2017.
“BraunAbility’s mission is to make life a moving experience for all,” said BraunAbility’s 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-growth companies in the Patricia Industries portfolio, including Permobil, the provider of powered and manual wheelchairs for people with severe functional disabilities.
“There’s nothing I’m prouder 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.
To find out more about BraunAbility, visit the website HERE
To find out more about Autoadapt, visit the website HERE