Sunrise Medical acquires ‘Switch It’
Sunrise Medical is a world leader in the development, design, manufacturing and distribution of manual wheelchairs, power wheelchairs, scooters, as well as seating and positioning products. In November 2012, funds advised by Equistone Partners Europe (EPE), one of Europe's leading investors in mid-market buyouts, took a majority stake in Sunrise Medical.
Today, Sunrise Medical announced that it has acquired all assets of Switch-It Inc., a privately owned company based in Missouri-City, Texas, USA.
Switch IT was founded in 1988 and is among the industry’s global leaders in the development, design, manufacturing and distribution of special drive controls and input devices. Its hightech product lines are predominantly employed in high-end ‘Complex Rehab Power Wheelchairs’.
The acquisition expands Sunrise Medical’s rehab technology industry portfolio and puts the company in a very favorable position for significant further growth.
Randi Binstock, VP Business Development, heading the process on Sunrise Medical’s side, believes that: “Going forward, the technological competence of Switch It, paired with Sunrise Medical’s strengths in product development and in market anticipation will make us even more competitive in the rehab power product segment. In addition, Sunrise Medical is able to support Switch It in expanding its distribution channels to customer groups globally.”
Thomas Rossnagel, President & CEO of Sunrise Medical, added: “The addition of Switch It to our portfolio comes at the exact right time with regards to our own internal development as a company in the complex Rehab Power Wheelchair segment. We continue to keep our eyes open for exciting acquisition opportunities in product lines and technology that further add to the strong growth of our core business.”
The acquisition represents a further successful step in the implementation of Sunrise Medical’s strategic expansion plan and is evidence of the on-going participation and support by Equistone Partners Europe.
Dirk Schekerka, Managing Director Germany at Equistone Partners Europe: “By acquiring Switch IT, Sunrise has brought a very valuable company on board that complements its offering. Sunrise remains on its growth course and Switch IT will certainly not be the last acquisition.” p>
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