BraunAbility Continues European Expansion
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowWinamac-based BraunAbility has announced the acquisition of the remaining shares of Sweden’s Autoadapt AB. The company, which previously owned nearly half of the European mobility manufacturer’s shares, says the deal is expected to close later this month.
Financial terms of the acquisition were not disclosed. In addition to Autoadapt, BraunAbility says it will acquire the company’s subsidiaries Unwin and Martech, based in the United Kingdom and Denmark, respectively.
BraunAbility acquired 47.5 percent of Autoadapt’s shares in 2011 and since then, Autoadapt has served as BraunAbility’s sole European distributor. The company says the new acquisition will help it to develop innovative products and expand its global reach.
BraunAbility manufactures wheelchair-accessible vehicles and wheelchair lifts. The company itself was acquired in 2015 by Patricia Industries, a division of Investor AB in Sweden. In November, BraunAbility announced Staci Kroon would take over as the company’s president and chief executive officer.