Handicare AS has established themselves in the Danish market for modified vehicles through the acquisition of Handi Mobil, and strengthens its position in Scandinavia.
Handi Mobil modifies vehicles for disabled people, for the elderly and for institutions, and performs installation work in cars and buses. The company makes special modifications in different types of vehicles, from ordinary cars to tourist buses and develops individual solutions in order to cover each individuals need.
Handi Mobil has two companies in Denmark, one in Herning and one in Copenhagen, with subsidiaries in Ålborg and Vejle. Over the last couple of years, the company developed very positively. The 2005 total turnover exceeded DKK 104 million, with an EBIT of DKK 9 million. Erik Thomsen is the managing director of Handi Mobil Herning and Henning Andersen is the managing director of Handi Mobil Copenhagen. After the acquisition they will both continue their work for the company. Handi Mobil will continue their operations as usual without any major changes.
The health company Handicare AS, owned by Ferd Private Equity Fund*, has not only companies in Norway but also subsidiaries in Sweden, Germany, the Netherlands and Denmark, as well as smaller subsidiaries in the United Kingdom and in Canada. The Handicare Group has operations in technical aids for disabled people and modification of vehicles and exports its products to more than 20 countries. Through its subsidiary Puls, Handicare also has a leading position in Norway in the sales of capital goods and consumables to hospitals and institutions. The Group had operating revenue of NOK 732 million in 2005, and an EBITA of NOK 71 million. After the takeover of the Dutch company Movingpeople.net, a producer of electrical and manual wheelchairs and scooters and of Kjærulff and Kebo Care in Denmark, Handicare will reach a total operating turnover of NOK 1.2 billion and an EBIT of NOK 130 million.
The acquisition of Handi Mobil is part of Handicare's Scandinavian home market strategy. Through the acquisitions of Kebo Care, Kjærulff and Handi Mobil, Handicare is established as one of the leading players in technical aids and modification of vehicles to elderly and disabled people in Denmark, with a total turnover of approximately NOK 200 million in this country. The Group expects future growth, both in Scandinavia and the rest of Europe.
Questions regarding the acquisition should be addressed to:
Per Gunnar Borhaug
CEO
Handicare AS
Tel: + 47 90739441 |
Henning Andersen
Managing Director
Handi Mobil København
Tel: + 45 60119628 |
Erik Thomsen
Managing Director
Handi Mobil Herning
Tel: + 45 28199621 |
*Ferd Private Equity Fund (FPEF) is an investment fund with NOK 2.0 billion in capital from 25 Norwegian and international investors. FPEF has a financial strength which enables it to take a dominant position of ownership in well-established companies with potential for further growth. FPEF acquired Handicare in July 2005 and is aiming for further growth for the company.