Boca Raton, Fla.-based middle market buyout shop Sun Capital Partners has invested an undisclosed amount in The SCOOTER Store. Based in New Braunfels, Texas, company makes scooters for elderly and disabled people. Financial terms of the investment were not released. McColl Partners advised the seller, a SCOOTER Store representative told peHUB. A source familiar with the transaction noted that Democrats’ landmark healthcare legislation that passed in 2010 impacted the SCOOTER Store’s top line, but that the deal was not a distressed investment. Sun takes control of the SCOOTER Store’s board, but not a majority stake in the company. It’s possible that the SCOOTER Store will make add-on deals.
Sun Capital Partners, a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that an affiliate has made an investment in The SCOOTER Store, the nation’s leading provider of power mobility solutions and services for elderly and disabled patients. Terms of the transaction were not disclosed.
Based in New Braunfels, Texas, The SCOOTER Store offers power mobility solutions, including power wheelchairs, scooters, lifts, ramps, and accessories supported by a national service organization. The company also provides Home Care products and services in select locations which provide seniors with a better quality of life and an alternative to living in nursing homes or other care facilities. The SCOOTER Store is the most recognized brand in its industry and was No. 38 on FORTUNE magazine’s 100 Best Companies to Work For in 2010. The company employs approximately 2,500 people.
“The SCOOTER Store is a market leader in its industry and is run by a strong management team,” said M. Steven Liff, Senior Managing Director at Sun Capital Partners. “We view this as a growth investment in a business that does an excellent job of working with customers to ensure they receive the right product for their medical needs with convienient in-home delivery and service. The SCOOTER Store is well positioned in a market whose customer base is projected to grow significantly in the coming years. We also see opportunities to expand product offerings in areas that would greatly enhance the business.”
“We look forward to our partnership with Sun Capital as we strive to accelerate our growth in response to recent changes in Medicare associated with the federal government’s health care reform.” said company founder and Chief Executive Officer Doug Harrison. “We have great respect for Sun Capital’s successful track record of developing businesses, and believe that with their support we are in a good position to leverage the opportunities that lie ahead.”
About Sun Capital Partners, Inc.
Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in–house operating professionals and experience. Sun Capital affiliates have invested in more than 255 companies worldwide with combined sales in excess of $40 billion since Sun Capital’s inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit www.SunCapPart.com.
About The SCOOTER Store
Since 1991, The SCOOTER Store has helped provide freedom and independence to more people with limited mobility than any other company in the nation. The company offers power mobility solutions, including power wheelchairs, scooters, lifts, ramps, and accessories, in 48 states. The company also provides Home Care products and services in some locations. Using these solutions provides today’s seniors an alternative to living in nursing homes or other care facilities. The company’s goal is to create an opportunity for every senior or disabled American to live their entire life safely and confidently at home. The SCOOTER Store was recently recognized by FORTUNE magazine in its prestigious 100 Best Places to Work For in America for the second time. The company is accredited by the Accreditation Commission for Health Care. For more information, visit www.thescooterstore.com