Wednesday, June 5, 2024
- Strong partnership with global investment firm to enter its next stage of growth, following successful expansion under ownership of Nordic Capital
- Commitment to continue on its mission of improving people’s lives
- Full support for the defined growth strategy including organic and external growth opportunities
- Thomas Babacan to continue leading the Group as CEO
Sunrise Medical (the “Group”), a global market leader for assistive mobility solutions, welcomes global investment firm Platinum Equity as its future shareholder. Its current owner Nordic Capital announced today that it has entered into a definitive agreement to sell Sunrise Medical to Platinum Equity. In close partnership with its future owner, Sunrise Medical will continue to pursue its defined growth strategy and follow its mission to improve people’s lives. As a consequence of this transaction, the Group will no longer seek a listing on the Frankfurt Stock Exchange.
Thomas Babacan, President and CEO of Sunrise Medical, says: “For more than 40 years we have been following our mission of improving people’s lives. Nordic Capital’s deep sector expertise, focus on operational excellence, and experience in how to advance global expansion, have been instrumental in the growth of Sunrise Medical over the past years. We are grateful for the excellent partnership which has enabled us to achieve our joint vision of creating a leader in our sector with an unrivalled global presence, to the benefit of users in need.”
“Based on our strong global footprint and proven strengths in providing users and customers with high quality products and services, coupled with continuous innovation, we are ideally positioned to capture further growth opportunities. While we have been ready to enter the next stage as a privately held or publicly listed company, we are delighted to welcome Platinum Equity as our future shareholder, which will enable us to continue innovating and growing with the support of private capital. Platinum has a lot of experience supporting complex, global businesses and the firm’s financial resources and operational expertise will be especially valuable to our mission. Improving the lives of users in need will remain our focus, and we are excited about the opportunities to be impactful on an even larger scale,” he added.
Sunrise Medical is active in the development, design, manufacturing, and distribution of assistive mobility products and solutions such as manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, seating and positioning systems as well as daily living aids and other home medical equipment. The Group is a leader in the field of complex rehabilitation, where products are often tailor-made to the specific requirements of individual mobility-impaired customers with critical need.
Following completion of the transaction, Sunrise Medical will continue to pursue its defined growth strategy in close partnership with Platinum Equity. The Group will capitalize on the existing underlying market growth, accelerate growth in all regions with a focus on a small number of the Group’s core markets, drive innovation and seek selected bolt-on acquisitions. Sunrise Medical will continue to be led by the management team under the leadership of CEO Thomas Babacan.
About Sunrise Medical
Committed to improving people's lives, Sunrise Medical is a global leader in the development, design, manufacturing, and distribution of innovative, high-quality assistive mobility devices and services. Distributed in more than 130 countries under its own 18 proprietary brands, the key products include manual and power wheelchairs, power assist products, pediatric and geriatric therapeutic devices, mobility scooters, daily living aids and more. Operating in 23 countries, Sunrise Medical Group is headquartered in Malsch, Germany and employs over 2,800 associates worldwide. For further information, please visit: https://sunrisemedical-group.com/