Drive DeVilbiss Healthcare changes hands in new private equity deal
By HME News Staff
Updated 11:57 AM CDT, Fri October 17, 2025
LOS ANGELES – Kingswood Capital Management, a Los Angeles-based private equity firm, has signed a definitive agreement to buy Drive DeVilbiss Healthcare from Clayton, Dubilier and Rice (CD&R).
Drive’s existing management team, including CEO Derek Lampert, will continue to lead the company, ensuring continuity in customer relationships and strategic execution, Kingswood said.
“We are incredibly excited about our new partnership with Kingswood and are confident this new chapter for Drive DeVilbiss will be the most exciting yet,” Lampert said. “Kingswood is fully aligned with the management team on the company’s future growth strategy.”
The transaction is expected to close later this year, subject to customary legal and regulatory requirements, Kingswood said.
Kingswood’s strategic vision
Kingswood says it will leverage its extensive network, industry expertise and capital base to Support Drive’s continued growth.
“Drive is well positioned for continued growth as a result of strong market tailwinds, organic growth initiatives, and actionable M&A opportunities,” said Alex Wolf, founder and managing partner of Kingswood. “We’re looking forward to leveraging our deep operational network and expertise to support the company as it continues to grow and provide solutions to customers and patients around the world.”
Background on Drive DeVilbiss
CD&R, a New York-based private equity firm, acquired Drive in 2016. Previously, Ferrer Freeman & Co., another New York-based private equity firm, was a minority stakeholder in the company.
Recent acquisitions and market position
Drive has made a number of acquisitions under its various private equity owners, most recently:
- The product line of De Oro Devices, the California-based company behind NexStride, a mobility aid designed to help people with Parkinson’s disease and other mobility-limiting conditions walk with greater safety and confidence.
- The full portfolio of Mobility Designed, including the company’s flagship product, the M+D Comfort Crutch.
Drive’s arguably biggest acquisition was DeVilbiss Healthcare in 2015, which gave the company a solid foundation in the respiratory and sleep markets.
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