Now, they’re preparing to get even more intimate with the senior mobility products company, according to multiple sources.
Sun Capital Partners, the middle market PE shop, is about to strike a deal to recap the New Braunfels, Texas-based maker of power wheelchairs, scooters, ramps and other accessories. One source who worked on the deal described it as “a very competitive process.”
A source who spoke with peHUB said the deal is a “minority transaction” that does not affect the majority ownership of the SCOOTER Store. Doug Harrison, who founded the SCOOTER Store in 1991, still serves as the company’s CEO. The ownership structure was not publicized.
The SCOOTER Store was named by Fortune magazine as one of the 100 best places to work in the United States in 2010. Its ubiquitous TV spots advertise to seniors that they, in tandem with a check from Uncle Sam, can have enhanced mobility “at little or no cost to you.”
Sun Capital, for its part, has been striking deals all over the middle market since the recession’s onset, it seems. The PE firm bought into companies in packaging, clothing and dining and in 2010 and in the first month of this year, affiliates Manchester Industries, Kellwood Co. and PaperWorks Industries each struck deals for tuck-in assets.
The SCOOTER Store declined to comment; if we hear back from Sun Capital Partners, we will include their response.