Drive Medical seeks buyer

Thursday, June 2, 2016

PORT WASHINGTON, N.Y. – Drive Medical has hired an investment bank to explore and carry out a potential sale of the company, according to PE Hub.

Drive Medical, which is partly owned by the private equity firm Ferrer, Freeman & Co., has hired Robert W. Baird & Co. to explore a sale that could value the company at more than $1 billion with debt, PE Hub reported on June 1.

The company generated EBITDA of about $95 million in 12 months, it reported.

The sale could take the form of a majority or minority stake in the company, with the management team retaining a portion of the equity, PE Hub reported.

Drive Medical has completed more than half a dozen acquisitions since 2011, in moves that have rounded out its product lines and expanded its presence overseas. Most recently, it acquired DeVilbiss Healthcare.