Nautic Partners LLC has acquired Vantage Mobility International. Financial terms weren’t announced. Phoenix-based Vantage Mobility makes wheelchair accessible vehicles, which it sells at mobility dealers across the United States and Canada. Kayne Anderson, Triangle Capital, Goldman Sachs, City National Bank and Amalgamated Bank provided financing. Ally Financial provided a new floorplan facility to support VMI’s chassis acquisitions. Lincoln International acted as financial advisor to the Company.
PROVIDENCE, R.I.–(BUSINESS WIRE)–Nautic Partners, LLC (“Nautic”) announced that it has partnered with management to acquire Vantage Mobility International (“VMI” or the “Company”). VMI is a leading manufacturer of wheelchair accessible vehicles (WAVs) which it sells at mobility dealers across the United States and Canada. Terms of the transaction were not disclosed.
Headquartered in Phoenix, AZ, VMI employs an experienced engineering, marketing, manufacturing, and sales staff to produce converted vehicles with lowered floors, increased headroom, and deployable ramps which allow for comfortable use of the vehicle by a disabled driver or passenger. The Company offers conversions on the market leading Toyota Sienna, Honda Odyssey, Dodge Caravan, Chrysler Town and Country, and Chrysler Pacifica platforms. VMI’s vehicles are known as the most technically innovative in the industry, which maximize the usable interior space on the respective platforms.
Demand for VMI’s products has been growing at an increasing rate, driven by awareness of the impact that VMI’s products have on the lives of people who would otherwise be confined to the home or relegated to less convenient transportation. Because VMI’s products meet the medical needs of groups such as children living with profound neuromuscular conditions, injured and disabled U.S. Military Veterans, and older adults seeking to preserve their independence in the face of chronic illness, the company’s business has remained robust in the face of broader economic cycles.
“In Nautic, we have found an ideal partner to support VMI’s continued growth,” said Doug Eaton, CEO of VMI. “Nautic offers a compelling combination of manufacturing, healthcare and financial experience to help VMI bring its life-changing products to even more disabled individuals and their families”.
Doug Hill, Managing Director of Nautic commented, “VMI is an excellent fit with Nautic’s strategy of investing in market leading niche manufacturing businesses with strong competitive positions and excellent management teams. We look forward to helping VMI increase the awareness of its compelling and differentiated products, and to support the Company as it continues to bring new offerings to market.”
“We wish to thank the entire VMI family of dealers, suppliers, customers and employees for their support to date, and Doug and I look forward to continuing to work with them in the years to come,” said Tim Barone, VMI’s Chief Financial Officer.
Nick Vidnovic, Vice President of Nautic added, “We are pleased to partner with the team at VMI, and with its national network of dealers. We are excited by the opportunity to drive both success in the business and a positive change in the lives of VMI’s customers.”
Kayne Anderson, Triangle Capital, Goldman Sachs, City National Bank, and Amalgamated Bank provided financing for the transaction, and Ally Financial provided a new floorplan facility to support VMI’s chassis acquisitions. Lincoln International acted as financial advisor to the Company.
Vantage Mobility International is a manufacturer and distributor of innovative, reliable, and high quality accessible vehicles. Their full line of products include domestic and import minivan conversions, full-size van conversions, platform lifts, scooter and wheelchair lifts. For more information, please visit http://www.VantageMobility.com.
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrial products, and outsourced services. Nautic has completed over 125 platform transactions throughout its 30-year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $25 to $100 million. For more information, please visit www.nautic.com.
The information provided herein is not an offer or sale of any security or investment product. The information is provided for the purpose of demonstrating investment capabilities to prospective portfolio companies.