Joint acquisition of mobility manufacturers to form new power player in global mobility market
Two of Europe’s key mobility equipment manufacturers, German-based Meyra and Danish-based Alu Rehab, are to be acquired by H.I.G. Capital (H.I.G.), with the goal of merging the two European mobility manufacturers to create one leading global brand.
A large-scale global private equity firm with over £26 billion of equity capital under its management, H.I.G is set to acquire the two European manufacturers by the end of the year after the move has been cleared by the relevant antitrust authorities.
Together, both Meyra and Alu Rehab – which sells wheelchairs under its “Netti” brand – will form a large-scale mobility equipment manufacturer in Europe, says H.I.G., maximising efficiency across the entire value-chain from manufacturing, logistics, assembly to sales and services.
Holger Kleingarn, Managing Director at H.I.G., commented: “The combination of Meyra and Alu Rehab represents a strong strategic and cultural fit. We look forward to the partnership with Michał, Kjetil and their teams and to supporting them in the group’s international expansion, both organically and by acquisition.”
H.I.G. confirmed that the current management teams of both companies will continue to run the group going forward.
Michał Perner, President of the Management Board and founding shareholder of Meyra, commented: “Meyra is a very strong brand that has continuously expanded its market position due toMeyra UK superior quality of products and reliable services. We are delighted to partner with H.I.G., who will support us to tap the substantial additional potential of the company and the market we are operating in.”
The combined group will generate over 40 percent of its sales in the German-speaking healthcare market, whilst also pursuing further grow in currently underrepresented European countries and selected markets outside Europe.
Kjetil Gausel, CEO of Alu Rehab, said: “For Alu Rehab, joining with Meyra will open attractive opportunities as we significantly expand our product portfolio and geographic reach. We are convinced that our unique Netti seating system in combination with Meyra’s high-quality active and e-powered wheelchair bases will generate substantial additional demand for the group.”
Designing, manufacturing and selling a wide range of mobility equipment, including active and e-powered wheelchairs, Meyra has been producing mobility equipment since 1936 and is one of the leading suppliers in mainland Europe, with subsidiaries in Poland, Hungary, Denmark, Spain, Czech Republic, The Netherlands, France, Italy and Russia.
Boasting large-scale manufacturing and distribution sites in Germany and Poland, the German-based manufacturer has approximately 600 employees and is expected to generate more than £69 million in sales in 2019.
THIIS spoke with Stephen Stone, Sales Director for Meyra UK, in August 2019 as he explained the company’s ambition to expand its dealer network in the UK market.
“The intent is to establish a distribution partnership with a compatible UK-based company that will give the confidence mobility dealers need to invest in Meyra providing real-time after-sales service and support,” he said at the time.
“This strategy will focus on twenty or more specialised dealers who have the skill-set to grow this relationship. With the exception of the existing dealers and their established areas of activity, we will target all other areas.”
Alu Rehab, a comfort wheelchair specialist formed in 1989 that sells its products under the established “Netti” brand, is a manufacturer and distributor of comfort wheelchairs and specialised seating systems with facilities in Norway, Denmark and China.
No financial terms were disclosed.
