PE firm invests in van conversion company
PHOENIX – Evergreen Pacific Partners, a Seattle-based private equity firm, has purchased a majority stake in Vantage Mobility International (VMI), according to a Feb. 4 news release. Doug Eaton, VMI CEO, and Tim Barone, CFO, have retained significant stakes in VMI and will continue to lead operations. They will use new investment capital to expand to meet growing demand for wheelchair accessible vehicles, according to the release. “Evergreen’s involvement in VMI will give us the resources to help even more people,” said Eaton. “This relationship will allow us to invest in new manufacturing technologies that will lower our costs as we continually improve our world-class quality.” VMI offers minivan and full-size van conversions, platform lifts, scooter and wheelchair lifts, and transfer seats. Evergreen Pacific Partners manages two funds totaling $700 million. It invests in traditional buyouts, management-led buyouts and growth equity investments involving traditional middle-market companies in the western U.S. and Canada.