Excellent performance of EPE's portfolio company Sunrise Medical
Sunrise Medical is a world leader in the development, design, manufacture and distribution of manual wheelchairs, power wheelchairs, scooters and seating and positioning products. In November 2012 funds managed by Equistone Partners Europe (EPE), one of Europe’s leading investors in mid-market buyouts, took a majority stake in Sunrise Medical. Since then Sunrise acquired Medicco S.R.O., its long standing exclusive distributor in the Czech Rebulic in June and JCM Seating, a UK-based designer and manufacturer of highly innovative and tailor-made specialist seating support systems in November 2013.
- Successful implementation of expansion strategy since EPE’s investment in 2012
- Sunrise Medical acquired two add-ons in just one year
- Organic revenue growth from €268m in FY 2012 to €285m in FY 2013
Medicco S.R.O. has been the exclusive distributor for Sunrise Medical’s mobility and seating product portfolio in the Czech Republic for over 20 years. Headquartered in Brno, Medicco employs 40 associates across the country whose primary focus is to provide excellent product and services to wheelchair users and insurance companies. Medicco therefore is a contractual party to most of the leading insurance companies in the Czech Republic with opportunities to expand its contracts further in the future.
“The acquisition of Medicco S.R.O. is fully in line with Sunrise Medical’s geographical expansion strategy into Eastern Europe. Medicco is the second important step into this direction after the establishment of our own sales office in Poland back in 2012. The combination of these two divisions provides us with a great basis to further expand Sunrise Medical’s business in the Czech Republic, Poland and potentially beyond. The team at Medicco is highly qualified and motivated to drive the business forward; paired with the resources and financial strength Sunrise Medical comes with, makes us confident of our future expansion success and growth in Eastern Europe.” stated Thomas Rossnagel, CEO of Sunrise Medical.
In November 2013, Sunrise Medical announced the acquisition of JCM Seating. The UK based company is with 40 employees a leading designer and manufacturer of highly innovative and tailor-made seating support systems, specialised but not limited to pediatric seating solutions.
“JCM Seating will play a vital role in Sunrise Medical’s strategy of expanding further into the pediatric and seating market. As the market place becomes more challenging it is ever more critical to improve our service and make business easier for our customers. With JCM on board, we have an exciting opportunity to offer our customers a fully blended seating and mobility solution,” explained Thomas Rossnagel, CEO of Sunrise Medical.
Both acquisitions represent successful steps in the execution of Sunrise Medical’s strategic expansion plan and show the continued investment and support from Equistone Partners Europe.
Dirk Schekerka, a Managing Director of Equistone in Germany, comments, “Both add-on acquisitions prove that EPE invested in a well-established company with high growth potential in an exciting market. Together with the company’s excellent management team we look forward to supporting Sunrise Medical’s integration of these two add-ons and it´s next stage of growth.”
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