Moneyline: Drive Medical seeks buyer, EZ-Access makes buy
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.
EZ-Access buys Phillips Life Systems
ALGONA, Wash. – EZ-Access, a division of Homecare Products Inc., has made a second acquisition in its quest to become a one-stop shop for accessibility products.
The company, which has its roots in residential, portable, threshold and modular ramps, has bought Pickens, S.C.-based Phillips Lift Systems, adding a line of power toilet seat lifts to its offerings.
“This lift is the perfect fit to support our growing accessibility product development,” said Don Everard, CEO of EZ-Access.
EZ-Access will move manufacturing of the power toilet seat lifts to its facilities in Algona, Wash., and Morganfield, Ky. It will rebrand and sell the lifts under the EZ-Access name of Tilt. A release date will be announced soon.
In September 2015, EZ-Access bought Mesa, Ariz.-based Worldwide Mobility, a manufacturer of powered vehicle lifts. It rebranded the lift as the Haulaway.