Equistone Partners Europe sells Sunrise Medical to Nordic Capital
Funds managed by Equistone Partners Europe have sold their majority stake in Sunrise Medical to Nordic Capital. Sunrise Medical is a world leader in the development, design, manufacture and distribution of premium wheelchairs, mobility scooters and advanced seating systems.
Equistone acquired a majority stake in Sunrise Medical as part
of a secondary buy-out in November 2012. Since then Sunrise Medical,
based in Malsch in Baden Württemberg, has become an internationally
established company. Recently, with the acquisition of Switch It and RGK
Wheelchairs, Sunrise Medical has added steering and control mechanisms
as well as sport and basketball wheelchairs to its range.
“Since our initial investment in Sunrise Medical, we’ve pursued a clear growth strategy and strengthened the Company’s international market position. Today, following astute acquisitions and successful growth, Sunrise Medical is a leading international manufacturer of individual high-tech mobility products. We wish Thomas Roßnagel and his team all the best and lots of success,” said Dirk Schekerka, Managing Director and Partner at Equistone.
“Equistone has helped us to significantly expand the global business of Sunrise Medical. My team and I are grateful for the valuable and successful cooperation of everyone at Equistone," says Thomas Roßnagel, CEO of Sunrise Medical.
Dirk Schekerka, Dr Marc Arens and Alexis Milkovic were responsible for managing the transaction on behalf of Equistone Partners. Equistone were advised on the transaction by Macquarie Capital (M&A), P+P Pöllath und Partner (Legal), KPMG (Financial & Tax) and Goetz Partner (Commercial Vendor Due Diligence).
The parties have agreed to not disclose the transaction value.
The transaction is subject to approval by the competition authorities. p>
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