28/06/2010

Minivator Stairlifts To Change Its Name To Handicare

The announcement that Minivator stairlifts are to be taken over by Handicare (who also own Freelift) was made public a while ago. It's now been confirmed that Minivator will no longer retain their original brand name. From the 1st July 2010, Minivator Stairlifts will officially change it’s name to Handicare. Telephones numbers will stay the same, e-mail address will divert directly to their new Handicare ones and their new website address for consumers is www.handicare.co.uk.

If you missed the announcement and would like to know a little more information about Minivator and Handicare, please read on….

Minivator Handicare

Midlands based Stairlift manufacturer Minivator has signed a deal to become the latest member of the family of companies in the Norwegian based Handicare, subject to regulatory approval.

Previously owned by its Directors and Gresham PE, Minivator Group has had an exceptional growth record, indeed it continued to experience double digit growth throughout the testing economic climate of recent years. With a core product range of stairlifts Minivator has expanded its presence establishing operations in North America and Germany and have recently started its own manufacturing base in the Far East. It has seen expansion within the UK having taken on new premises at least four times in the last three years.

As one of the world’s leading manufacturers of stairlifts with a turnover of approx. 55 million Euro, and 420 employees selling to over 35 countries the Minivator Group was a desirable prospect for many companies. The board were in no rush to sell, choosing instead to spend time finding the perfect partner to move forward with. They found such a match with the Handicare Group. Minivator CEO Mike Lord commented “We were looking for a buyer who not only made sound business sense but who was also a great fit with the culture and values that Minivator holds at its core. We are delighted with the deal and are looking forward to seeing what the future holds. We believe exciting times are ahead and being part of a larger and well established group that holds similar ethical beliefs will open up many opportunities that will be mutually beneficial and rewarding.”

The healthcare company Handicare AS, owned by Herkules Private Equity Fund1, was founded in 1986 and has operations in technical aids like wheelchairs and home care products in addition to adaptation of cars for elderly and physically disabled people. Through its subsidiary Puls, the Group also has a leading position in Norway in the sales of capital goods and consumables to hospitals and institutions. Handicare has its headquarters in Moss, Norway, and has subsidiaries in Sweden, Denmark, Germany, the Netherlands, England, Belgium, Poland, USA and Canada, and distribute its own products to an additional 30 markets. Handicare has just shy of 1000 employees and reached sales over 250 million Euro in 2009.

Handicare CEO Per Gunnar Borhaug explained “Handicare has grown both organically and through the acquisition of successful companies that had the same drive as Handicare: the desire to provide excellent products and services that help improve the quality of life for the less able, the elderly and those who care for them. Having identified Minivator Group as a financially promising acquisition target we were delighted to find that they had the kind of culture that would fit right in with Handicare’s other companies.”

 

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