Sunrise Medical

Founded in 1983, Sunrise Medical develops, produces and distributes manual and electric wheelchairs, motorised scooters, mobility aids and optimal standard and customised seating and positioning systems.

VALUE CREATION

Equistone Funds have worked closely with the management team to support its strategy of geographic expansion and the strengthening of its product range. Organic growth has been enhanced by four successful build-up investments:

• Medicco, a wheelchair distributor in the Czech Republic, increased the company’s presence in Eastern Europe and was the first acquisition made in June 2013.
• Later the same year, UK-based JCM Seating Solutions, strengthened its paediatrics offering in postural care management.
• In March 2015, further expansion was achieved in the US through the acquisition of Switch-it, a high tech manufacturer of specialty drive controls and input devices for powered wheelchairs.
• RGK Wheelchairs, a high-end sports/basketball wheelchairs manufacturer in the UK, was the most recent acquisition, made in April 2015.

Additionally, Sunrise Medical established a new manufacturing plant in Poland and developed its online strategy with the support of Equistone-Funds-backed digital marketing specialists, PIA.

During Equistone Funds’ investment period, Sunrise Medical has realised sales and earnings growth significantly above our investment case.

THE EXIT

Equistone Fund IV sold Sunrise Medical to Nordic Capital, making it the first exit of this Fund.