BraunAbility announces in a media release on its website that it has been acquired by Patricia Industries, a division within Investor AB, Stockholm, Sweden.
The wheelchair-accessible vehicle and wheelchair lift provider notes in the release that it will continue to be led by its current management team, which continues to be owners in the company.
Börje Ekholm, CEO of Patricia Industries, comments in the release that, “Given our long-term value creation objectives and experience within both healthcare and mobility, we believe that Patricia Industries is well positioned to support BraunAbility in its continued progress.”
“Together with BraunAbility’s dedicated management and employees, we look forward to contributing to the company’s continued success,” Ekholm adds.
Nick Gutwein, BraunAbility’s President and CEO, concurs, stating in the release that, “With the support of Patricia Industries, we will be positioned to accelerate our rate of growth, powered by product innovation, development of our brand promise within the communities we serve and continued expansion into global markets.”
According to the release, the acquisition is subject to approval from the relevant competition authorities. Closing is expected during the fourth quarter of 2015.
[Source: BraunAbility]
