updated: 5/29/2012 7:27:53 AM
Winamac-based The Braun Corp. has a new ownership structure. The manufacturer of automotive mobility products says Ralph Braun remains the majority shareholder, with Sam Schmidt Motorsports Owner Sam Schmidt and Bruno Independent Living Aids Inc. President Michael Bruno joining as "strategic investors."
May 27, 2012
WINAMAC, Ind. – May 25, 2012 – Ralph Braun has announced a new ownership structure of the Braun Corporation, an Indiana-based manufacturer of automotive mobility products for individuals who use scooters or wheelchairs.
Effective immediately, the new structure, orchestrated by Braun himself, is a recapitalization that includes a senior management group and two strategic investors, Mike Bruno of Bruno Independent Living Aids and Sam Schmidt of Sam Schmidt Motorsports. Ralph Braun remains the largest shareholder of the corporation.
The Braun Corporation recognizes its 40th anniversary this year, appropriate timing for an announcement regarding the company’s future, said Braun. “My management team consists of proven performers, and both of the new investors are successful businessmen with a deep and personal experience in mobility. I couldn’t have asked for a better team to continue the Braun legacy in the mobility industry.”
Braun reaffirmed the company’s commitment to leading the mobility industry with innovative product design and a deep appreciation of its customer base. “Braun Corporation has led the mobility industry for over 40 years,” he said. “This new ownership structure will enable us to keep leading, innovating and changing the lives of individuals with physical disabilities for the next 40 years and beyond.”
About The Braun Corporation
The Braun Corporation is a leading manufacturer of wheelchair accessible vans, ramps, and wheelchair lifts worldwide and enables people with physical disabilities to regain mobility and lead active and independent lives. The Indiana-based company was founded by Ralph Braun, who was diagnosed with spinal muscular atrophy at a young age and unable to walk by age 15. Ralph was motivated by his disability to invent the world’s first electric scooter (the Tri-Wheeler) and wheelchair lift (the Lift-A-Way) in his parents’ garage. Word spread and demand for the product increased, resulting in the birth of Save-A-Step Manufacturing, which ultimately became The Braun Corporation. The company, via the BraunAbility brand, offers the most diverse model lineup in the industry, including the most popular minivan models from Dodge/Chrysler, Honda, and Toyota. For more information about the Braun Corporation or our outstanding line of wheelchair accessible vehicles, please visit www.braunability.com.
Source: Braun Corp.