Accessible Vehicle Maker Acquired
Winamac-based BraunAbility has been acquired by a division of Investor AB in Sweden. BraunAbility, which makes wheelchair-accessible vehicles and wheelchair lifts, will continue to be led by its current management team.
BraunAbility Chief Executive Officer Nick Gutwein says the acquisition will allow the company to accelerate growth and continue to expand into global markets. In a release, he calls the deal "a tremendous opportunity to extend for decades the legacy that our founder Ralph Braun built."
The company says at the time of Braun’s death in 2013, the company had around 850 employees at the Pulaski County headquarters. Braun, who was diagnosed at the age of six with muscular dystrophy, was considered a pioneer in the mobility industry.
Investor AB also owns Permobil, which makes power and manual wheelchairs. The acquisition is subject to multiple approvals and is expected to close by the end of the year.